Start networking and exchanging professional insights

Register now or log in to join your professional community.

Follow

What is appropriate to recognize revenue for health care institution (hospital) where patient admitted and deposits cash before finalization of bill?

should every deposit show as a revenue or wait to finalization of bill ?

user-image
Question added by Mrinal Deb , Manager - Finance and Accounts , Comfort Diagnostic & Nursing Home
Date Posted: 2013/07/13
Asif Umer
by Asif Umer , Accounting Manager , Garden College Ltd

Hi, In services industries, normally percentage of completion method is used to recognize revenue.
In case of hospital as there are a number of patients being served simultaneously, and calculating stage of completion may be nearly impossible for many patients.
So it is advisable that revenue should be recognized once the bill is finalized.
asif

More Questions Like This

Do you need help in adding the right keywords to your CV? Let our CV writing experts help you.