As of fiscal term ending March 2019, medical corporations of a certain scale must meet the newly established generally accepted accounting principles (GAAP). Until now, there were no unified accounting principles, and comparison of hospital accounting information between different establishments was difficult.
The present study surveyed financial documents submitted to municipalities by medical corporations that were required to do so, and aimed to verify effectiveness of the new GAAP for medical corporations and understand challenges.
External audit, supplementary schedule, and medical services corporation transaction records which had to be submitted for the first time this year clarified the financial information of each medical corporation, indicating their usefulness. On the other hand, there were missed submissions and mistakes in documents, pointing to a future operational challenge to tackle the inadequate systems of the medical corporations preparing documents and the municipalities that check these documents.
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