ASC
Abbreviation with 2 meanings
| Stands for | Ambulatory surgery center |
|---|---|
| Meanings | 2 |
| Categories | Medical, Business & Finance |
ASC has two meanings. It stands for Ambulatory surgery center (hospital) or Accounting Standards Codification (accounting).
Meanings of ASC at a glance
| # | ASC stands for | Context |
|---|---|---|
| 1 | Ambulatory surgery center | Medical › Hospital |
| 2 | Accounting Standards Codification | Business & Finance › Accounting |
1. Ambulatory surgery center
Medical · Hospital Abbreviations
Freestanding facility where outpatient surgeries and procedures are performed, with patients going home the same day. Common cases include cataract surgery, endoscopy, orthopedic arthroscopy and pain procedures.
Example: Knee scope scheduled at ASC Friday; arrive 2 hours early.
Medicare certifies ASCs separately from hospitals, and prices are usually lower than hospital outpatient departments. Many are partly owned by physicians. Patients needing overnight care are transferred to a hospital, so ASCs screen for higher-risk conditions.
2. Accounting Standards Codification
Business & Finance · Accounting Abbreviations
Single authoritative source of US GAAP, maintained by the Financial Accounting Standards Board and organized into numbered topics, such as ASC 606 for revenue from contracts with customers, ASC 842 for leases and ASC 740 for income taxes. Accountants cite ASC topics when explaining how a transaction is recorded.
Example: The auditors questioned whether the bundled software contract was accounted for correctly under ASC 606.
The Codification became effective in September 2009, replacing a patchwork of earlier pronouncements such as FASB Statements and EITF issues. It is amended through Accounting Standards Updates (ASUs). Topic numbers follow a pattern: the 600s cover revenue, the 700s expenses and the 800s broad transactions such as business combinations, fair value and leases.
Related abbreviations
More hospital abbreviations
- ALF – Assisted living facility
- ALOS – Average length of stay
- AMC – Academic medical center
- AOD – Administrator on duty
- BBP – Bloodborne pathogens
- BHU – Behavioral health unit
- CAH – Critical access hospital
- CAUTI – Catheter-associated urinary tract infection
See all 89 hospital abbreviations →
More accounting abbreviations
- AJE – Adjusting journal entry
- AOCI – Accumulated other comprehensive income
- AP – Accounts payable
- AR – Accounts receivable
- ASU – Accounting Standards Update
- B/S – Balance sheet
- BEP – Break-even point
- BV – Book value
See all 95 accounting abbreviations →
This entry is for general education and is not medical advice. Abbreviation use varies between institutions; always confirm in context.