Private health care organizations,both not-for-profit and for-profit,follow FASB standards while government healthcare organizations follow GASB.

Question

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Private health care organizations, both not-for-profit and for-profit, are considered nongovernmental entities and therefore follow the Generally Accepted Accounting Principles (GAAP) established by the Financial Accounting Standards Board (FASB). Government healthcare organizations, on the other hand, are considered governmental entities and follow the GAAP established by the Governmental Accounting Standards Board (GASB).

Private Health Care Organizations,both Not-For-Profit and For-Profit,follow FASB Standards While