Ohio Health Care Association's Long Term Care Recap

Recently, our HW Healthcare Advisors attended the Ohio Health Care Association's Long Term Care spring convention.

Director of Healthcare and principal, Rosemary Orlando, and Senior Manager, Ryan Kramer, had the privlege of speaking at the convention.

Their presentation was entitled ICF-IID Strategies for Changing Times....What is Your Game Plan?
Tips include:
-Ohio Overview
-National & State Trends
-HB 64 Provisions (ICF/Waiver
-And more!

If you would like to see the full presentation here! 

Visit www.hwco.com for more details!





This update is published periodically by HW&Co;. as an information service to our clients, business associates and friends. It is general information and professional advice should be obtained before acting on any comments contained in this document.

The perks of busy season

Every year our firm provides an array of busy season perks for our staff.

From catered dinners to jeans days on Fridays. Keeping our team happy and motivated is our biggest priority.

Our Principals sincerely thank all of our staff for all of their hard work and dedication this season!

(Indian's Home Opener)

(Sundae Monday_that's our CEO scooping ice cream!)

(National Cereal Day!)

(Raising Awareness for Epilepsy)

FASB Issues Update-April 7th, 2015

Anthony S. LaNasa, CPA, CFE

Principal

lanasa@hwco.com

 

 

 

On April 7^th, 2015 the FASB (Board) issued Accounting Standards Update (ASU) No. 2015-03, Interest: Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs.  It was part of the accounting board initiative to simplify U.S. GAAP.

 

So what will this new accounting update mean?

 

It means that the costs for issuing debt should appear on a balance sheet as a direct deduction from the debt’s value. The Board stated that these amendments won’t affect the recognition and measurement of the costs for issuing debt.

 

This update is effective for all companies for reporting periods beginning after December 15, 2015.  Adopting these amendments early is also being allowed by the Board, including any financial statements that have not been previously issued.

 

As companies adopt the amendments, they should revise balance sheets for periods being presented prior to the effective date. Once a company adopts the changes, it is required to disclose the applicable information for a change in an accounting principle.

 

The FASB Board is really focusing on simplifying and making U.S. GAAP more readable and understandable.  Lastly, does this change make sense because are debt issuance costs really assets that provide a future economic benefit?  My opinion to that answer is no.

This update is published periodically by HW&Co. as an information service to our clients, business associates and friends. It is general information and professional advice should be obtained before acting on any comments contained in this document.