“It’s getting less murky how companies should book the effects of a new Medicare bill in their financial statements”: the Wall Street Journal reports on FASB‘s meeting on Wednesday at which it was decided that “companies should book the amount of federal subsidy they expect to receive under the Medicare Act as a reduction of future benefit costs — instead of as a stream of income from continuing operations.” The article is entitled: “FASB Confirms Standard on Medicare Accounting.” (Subscription required.)
Accounting Web also reports: “FASB Confirms Existing Rules on Medicare Accounting.”