New York Codes, Rules and Regulations
Title 10 - DEPARTMENT OF HEALTH
Chapter V - Medical Facilities
Subchapter A - Medical Facilities-minimum Standards
Article 8 - New York State Annual Hospital Report
Part 442 - Reporting Principles And Concepts
Basic Concepts
Section 442.6 - Conservatism
Universal Citation: 10 NY Comp Codes Rules and Regs ยง 442.6
Current through Register Vol. 46, No. 39, September 25, 2024
[ 1150 ] Conservatism is a quality of judgment to be exercised in evaluating the uncertainties and risks present in the hospital entity to assure that reasonable provisions are made for potential losses in the realization of recorded assets and in the settlement of actual and contingent liabilities. However, conservatism is not a justification for deliberate understatement.
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