For financial reporting purposes, government hospitals are within the jurisdiction of the

Question

Quizplus · Accepted Answer

Government hospitals are considered part of the government sector and therefore fall under the jurisdiction of the Governmental Accounting Standards Board (GASB) for financial reporting. The Financial Accounting Standards Board (FASB) and American Institute of Certified Public Accountants (AICPA) primarily focus on the private sector. The Hill-Burton Act is a federal law that provided funding for hospital construction but is not directly related to financial reporting.

For Financial Reporting Purposes, Government Hospitals Are Within the Jurisdiction