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

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Posted by:
DEBORAH OKEMMUO
02-March-2016

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

Question ajoutée par Mrinal Deb , Manager - Finance and Accounts , Comfort Diagnostic & Nursing Home
Date de publication: 2013/07/13

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par 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

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