Question

1. In the Ontario Healthcare Reporting Standards (OHRS), the chart of accounts reflects the types and volumes of services provided by the organization and the revenues and expenses associated with these activities. The accounting structure includes:
   • Primary Accounts
     • Balance Sheet accounts
     • Functional and accounting centre accounts
       • Secondary accounts
         • Financial
         • Statistical
   1. Is the hierarchical structure above accurate?
      1. Yes
      2. No

Answer 1

Solution :

Yes, the accounting structure in the Ontario Healthcare Reporting Standards (OHRS) consists of the following :

• Primary Accounts
• Balance Sheet accounts
• Functional and accounting centre accounts
• Secondary accounts
• Financial
• Statistical

The hierarchical structure as given above is NOT accurate. It should be as follows :

• Primary Accounts: Selecting Functional Centre (FC) Accounts
• Balance Sheet accounts
• Secondary accounts - Financial
• Secondary accounts - Statistical