Today the FASB issued the following two proposed Accounting Standards Updates for public comment:

Presentation of Insurance Claims and Related Insurance Recoveries — This exposure draft is a consensus of the EITF and a proposed Accounting Standards Update of Topic 954.  Per the exposure draft, “[t]he objective of this proposed Update is to address diversity in the accounting for medical malpractice and similar liabilities and their related anticipated insurance recoveries by health care entities. . . . The amendments in this proposed Update would clarify that a health care entity should not net insurance recoveries against a related claim liability and the amount of the claim liability would be determined without consideration of insurance recoveries.” Comments are due by May 17, 2010.

Measuring Charity Care for Disclosure — This exposure draft is a consensus of the EITF and a proposed Accounting Standards Update of Topic 954. Per the exposure draft, “[t]he objective of this proposed Update is to reduce the diversity in practice about the disclosure of a measure of charity care. . . . The amendments in this proposed Update would require that the measurement of charity care for disclosure purposes be based on the direct and indirect costs of providing the charity care.” Comments are due by May 17, 2010.