Designed for undergraduate accounting courses such as governmental accounting, public sector accounting, government and nonprofit accounting and fund accounting, this text provides a basis for understanding the governmental accounting and reporting framework for all funds and account groups.



Book Info

Focuses on the most important of the concepts, standards and procedures applicable to state and local, federal governments, and nonprofit government universities, hospitals, and welfare organizations. Covers the June 1999 GASB Statement 34.

THE most comprehensive text in the field, this introduction to accounting and financial reporting for state and local governments and nonprofit organizations offers an excellent balance between theory and practice.

Governmental and Nonprofit Accounting, Revised Sixth Edition provides a better balance between theory and practice than other texts, with the most up-to-date coverage. It provides readers with a thorough basis for understanding the logic for and nature of all of the funds and account groups of a government, with a unique approach that enables readers to grasp the entire accounting and reporting framework for a government before focusing on specific individual fund types and account groups. Includes coverage of the new reporting model standard: GASB Statement 34. Includes illustrations of government-wide financial statements and fund-based financial statements presented using the major fund approach. Points out the major changes required from the current guidance and explains and illustrates the requirements of the new model. Explains and illustrates the GASB Statement 31. Contains the latest revision of OMB Circular A-133 on single audits. Appropriate for undergraduate Accounting courses, such as Governmental Accounting, Public Sector accounting, Government and Nonprofit Accounting, and Fund Accounting.



Table of Contents

1. Governmental and Nonprofit Accounting: Environment and Characteristics.





I. STATE AND LOCAL GOVERNMENT ACCOUNTING AND REPORTING.





2. State and Local Government Accounting Concepts, Objectives, and Principles.

3. Budgeting, Budgetary Accounting, and Budgetary Reporting.

4. General and Special Revenue Funds.

5. Revenue Accounting?Governmental Funds.

6. Expenditure Accounting?Governmental Funds.

7. Capital Projects Funds.

8. Debt Service Funds.

9. General Capital Assets; General Long-Term Liabilities; Permanent Funds: Introduction to Interfund-GCA-GLTL Accounting.

10. Enterprise Funds.

11. Internal Service Funds.

12. Trust and Agency (Fiduciary) Funds Summary of Interfund-GCA-GLTL Accounting.

13. Financial Reporting: The Basic Financial Statements.

14. Financial Reporting: Deriving Government-Wide Financial Statements and Required Reconciliations.

15. Financial Reporting: The Comprehensive Annual Financial Report and the Financial Reporting Entity.



II. FEDERAL AND NOT-FOR-PROFIT ORGANIZATION ACCOUNTING AND REPORTING.





16. Non-SLG Not-for-Profit Organizations: SFAS 116 and 117 Approach.

17. Accounting for Colleges and Universities.

18. Accounting for Health Care Organizations.

19. Federal Government Accounting.



III. PUBLIC SECTOR AUDITING.





20. Auditing.

Index.