Description
Accounting for Governmental & Nonprofit Entities Edition 17 by Jacqueline Reck EBOOK PDF Instant Download
Table of Contents
Title Page
Copyright Page
About the Authors
Preface
Acknowledgments
Brief Contents
Table of Contentss
Chapter 1 Introduction to Accounting and Financial Reporting for Governmental and Not-for-Profit Ent
Welcome to Governmental and Not-for-Profit Accounting
What Are Governmental and Not-for-Profit Organizations?
Distinguishing Characteristics of Governmental and Not-for-Profit Organizations
Sources of Financial Reporting Standards
Objectives of Financial Reporting
Overview of Financial Reporting for State and Local Governments, the Federal Government, and Not-for
Financial Reporting of State and Local Governments
Financial Reporting of the Federal Government
Financial Reporting of Not-for-Profit Organizations (NFPs)
Expanding the Scope of Accountability Reporting
Overview of Chapters 2 through 17
GASB Principles, Standards, and Financial Reporting
Accountability for Public Funds
Not-for-Profit Organizations and the Federal Government
A Caveat
Key Terms
Questions
Cases
Exercises and Problems
PART ONE State and Local Governments
Chapter 2 Principles of Accounting and Financial Reporting for State and Local Governments
Activities of Government
Financial Reporting Model
Elements and Measurement
Government-wide Financial Statements
Fund Financial Statements
Fund Reporting
Fund Categories
Classification of Fund Balances
Major Fund Reporting
Summary of Government-wide and Fund Characteristics
Appendix A: Illustrative Financial Statements for City and County of Denver, Colorado
Appendix B: Summary Statement of Governmental Accounting and Financial Reporting Principles
Key Terms
Selected References
Questions
Cases
Exercises and Problems
Chapter 3 Governmental Operating Statement Accounts; Budgetary Accounting
Classification and Reporting of Expenses and Revenues at the Government-wide Level
Reporting Direct and Indirect Expenses
Program Revenues and General Revenues
Reporting Special Items and Transfers
Structure and Characteristics of the General Fund and Other Governmental Funds
Governmental Fund Balance Sheet and Operating Statement Accounts
Reporting Budgeted and Actual Results
Terminology and Classification for Budgetary and Operating Statement Accounts
Classification of Appropriations and Expenditures
Classification of Estimated Revenues and Revenues
Budgetary Accounting
Recording the Budget
Budgetary Control of Revenues
Budgetary Control of Encumbrances and Expenditures
Accounting for Allotments
Concluding Remarks
Appendix A: Accounting Information Systems
Appendix B: Accounting for Public School Systems
Key Terms
Selected References
Questions
Cases
Exercises and Problems
Chapter 4 Accounting for Governmental Operating Activities-Illustrative Transactions and Financial S
Illustrative Case
Measurement Focus and Basis of Accounting
Dual-track Accounting Approach
Illustrative Journal Entries
Recording the Budget
Encumbrances and Purchasing Transactions
Payment of Liabilities
Payrolls and Payroll Taxes
Accounting for Property Taxes
Other Revenues
Tax Anticipation Notes
Forecasting Amount of Tax Anticipation Borrowing
Repayment of Tax Anticipation Notes
Special Topics
Correction of Errors
Receipt of Goods Ordered in Prior Year
Revision of the General Fund Budget
Exchange Transactions with Proprietary Funds
Supplies Purchased from an Internal Service Fund
Services Provided by an Enterprise Fund
Adjusting Entries
Pre-Closing Trial Balance
Closing Entries
Reclassification of Fund Balances
General Fund Financial Statements
Special Revenue Funds
Accounting for Operating Grants
Financial Reporting
Interfund Activity
Intra- versus Inter-Activity Transactions (Government-wide Level)
Permanent Funds
Budgetary Accounts
Illustrative Case
Appendix A: Concepts and Rules for Recognition of Revenues and Expenses (or Expenditures)
Appendix B: Interim Financial Reporting
Key Terms
Selected References
Questions
Cases
Exercises and Problems
Chapter 5 Accounting for General Capital Assets and Capital Projects
Accounting for General Capital Assets
Required Disclosures about Capital Assets
Classification of General Capital Assets
General Capital Assets Acquired under Capital Lease Agreements
Costs Incurred after Acquisition
Reduction of Cost or Asset Disposal
Asset Impairments and Insurance Recoveries
Service Concession Arrangements
Capital Projects Funds
Illustrative Transactions-Capital Projects Funds
Illustrative Financial Statements for a Capital Projects Fund
Alternative Treatment of Residual Equity or Deficits
Bond Premium, Discount, and Accrued Interest on Bonds Sold
Retained Percentages
Claims and Judgments Payable
Bond Anticipation Notes Payable and the Problem of Interest Expenditures
Investments
Multiple-Period and Multiple-Project Funds
Capital Projects Financed by Special Assessments
Financial Reporting for Capital Projects Funds
Key Terms
Selected References
Questions
Cases
Exercises and Problems
Chapter 6 Accounting for General Long-term Liabilities and Debt Service
General Long-term Liabilities
Accounting for Long-term Liabilities
Long-term Liability Disclosures
Debt Limit and Debt Margin
Overlapping Debt
Debt Service Funds
Number of Debt Service Funds
Use of General Fund to Account for Debt Service
Budgeting for Debt Service
Types of Serial Bonds
Debt Service Accounting for Term Bonds
Financial Reporting
Accounting for Bond Premiums and Accrued Interest
Valuation of Debt Service Fund Investments
Deposit and Investment Disclosures
Debt Service Accounting for Special Assessment Debt
Use of Debt Service Funds to Record Capital Lease Payments
Accounting for Debt Refunding
Advance Refunding of Debt
Other Long-term Liabilities
Compensated Absences
Pollution Remediation Obligations
Claims and Judgments
Key Terms
Selected References
Questions
Cases
Exercises and Problems
Chapter 7 Accounting for the Business-type Activities of State and Local Governments
Proprietary Funds
Assets Acquired under Lease Agreements
Financial Reporting Requirements
Internal Service Funds
Illustrative Case-Supplies Fund
Illustrative Statements Using Supplies Fund
External Financial Reporting of Internal Service Funds
Dissolution of an Internal Service Fund
Special Topics Associated with Internal Service Funds
Enterprise Funds
Water Utility Funds
Current and Accrued Assets
Restricted Assets
Utility Plant
Current Liabilities
Liabilities Payable from Restricted Assets
Long-term Liabilities
Net Position
Illustrative Case-Water Utility Fund
Illustrative Statements Using Water Utility Fund
External Financial Reporting of Enterprise Funds
Appendix: Special Topics in Accounting for the Business-type Activities of State and Local Governmen
Key Terms
Selected References
Questions
Cases
Exercises and Problems
Chapter 8 Accounting for Fiduciary Activities-Agency and Trust Funds
Agency Funds
Agency Fund for Special Assessment Debt Service
Tax Agency Funds
“Pass-through” Agency Funds
Financial Reporting of Agency Funds
Trust Funds
Investment Pools
Creation of an Investment Pool
Operation of a Cash and Investment Pool
Withdrawal of Assets from the Pool
Closing Entry
Illustrative Financial Statements
Private-purpose Trust Funds
Pension Trust Funds
General Characteristics of Governmental Pension Plans
Required Financial Reporting for Defined Benefit Pension Plans
Illustrative Transactions for a Defined Benefit Pension Plan
Employer’s Pension Accounting
Employer Recording and Reporting of Pension Expenditure/Expense
Other Postemployment Benefits (OPEB)
Termination Benefits
Appendix: Managing Investments
Key Terms
Selected References
Questions
Cases
Exercises and Problems
Chapter 9 Financial Reporting of State and Local Governments
Providing Useful Financial Reports
The Governmental Reporting Entity
Defining the Financial Reporting Entity
Component Units
Reporting by Other Government Organizations
Governmental Financial Reports
Need for Periodic Reports
Interim Financial Reports
Annual Financial Reports
Preparation of Basic Financial Statements
Fund Financial Statements
Required Reconciliations
Intra-entity Transactions
Other Financial Reporting Issues and Topics
Popular Reporting
Other Comprehensive Basis of Accounting (OCBOA)
International Accounting Standards
Appendix A: Converting Accounting Information from the Modified Accrual to the Accrual Basis of Acco
Appendix B: Management’s Discussion and Analysis (MD&A)-City and County of Denver
Key Terms
Selected References
Questions
Cases
Exercises and Problems
PART TWO Accountability for Public Funds
Chapter 10 Analysis of Governmental Financial Performance
The Need to Evaluate Financial Performance
Government Financial Performance Concepts
Financial Position and Financial Condition
Economic Condition
Internal Financial Trend Monitoring
Environmental Factors
Organizational Factors
Financial Factors
Analyzing Government-wide Financial Statements
Financial Position Ratios
Financial Performance Ratios
Financial Capability Ratios
Use of Benchmarks to Aid Interpretation
Sources of Governmental Financial Data
Electronic Municipal Market Access
Credit Analyst Models
Key Terms
Selected References
Questions
Cases
Exercises and Problems
Chapter 11 Auditing of Governmental and Not-for-Profit Organizations
Financial Audits by Independent CPAs
Generally Accepted Auditing Standards
Format of the Audit Report
Types of Opinions
The Audit Process
Materiality for Government Audits
Required Supplementary and Other Information
Government Auditing Standards
Types of Audits and Engagements
GAGAS Financial Audits
Ethics and Independence
Single Audits
History of the Single Audit
Amendments to Single Audit Requirements
Determining Who Must Have a Single Audit
Single Audit Requirements
Selecting Programs for Audit
Reports Required for the Single Audit
Other Single Audit Requirements
Special Topics Related to Audits of Governments and Not-for-Profits
Single Audit Quality
The Impact of Sox
Auditing Guidance
Key Terms
Selected References
Questions
Cases
Exercises and Problems
Chapter 12 Budgeting and Performance Measurement
Objectives of Budgeting in the Public Sector
Compliance with Laws
Communicate Performance Effectiveness
Budgeting Approaches
Line-item Budgeting
Performance Budgeting
Program Budgeting
Entrepreneurial Budgeting
Budgeting Process in a State or Local Government
Budgeting Governmental Appropriations
Budgeting Governmental Revenues
Budgeting Capital Expenditures
Budgeting Cash Receipts
Budgeting Cash Disbursements
Integration of Planning, Budgeting, and Performance Measurement
Service Efforts and Accomplishments (SEA)
Managerial Tools to Improve Performance
Total Quality Management
Customer Relationship Management
Activity-based Costing
Balanced Scorecards
Conclusion
Appendix: Budget and Cost Issues in Grant Accounting
Key Terms
Selected References
Questions
Cases
Exercises and Problems
PART THREE Accounting and Financial Reporting for Not-for-Profit Organizations and the Federal Gover
Chapter 13 Accounting for Not-for-Profit Organizations
Defining the Not-for-Profit Sector
Determining Whether an NFP Organization Is Governmental
GAAP for Nongovernmental NFP Organizations
Financial Reporting
Statement of Financial Position
Statement of Activities
Statement of Cash Flows
Statement of Functional Expenses
Notes to the Financial Statements
Accounting for NFP Organizations
Revenues and Gains
Accounting for Expenses
Accounting for Assets
Consolidations and Combinations
Consolidations
Combinations
Illustrative Transactions-Voluntary Health and Welfare Organizations
End-of-the-Year Adjusting Journal Entries
End-of-the-Year Reclassification Journal Entries
End-of-the-Year Closing Journal Entries
Appendix: Optional Fund Accounting
Key Terms
Selected References
Questions
Cases
Exercises and Problems
Chapter 14 Not-for-Profit Organizations-Regulatory, Taxation, and Performance Issues
State Regulation
Not-for-Profit Incorporation Laws
Licenses to Solicit Contributions or for Other Purposes
Taxes
Lobbying and Political Activity
Federal Regulation
Tax-exempt Status
Annual Compliance Reporting
Unrelated Business Income Tax
Excessive Benefits Received by Officers
Reorganization and Dissolution
Governance
Incorporating Documents
Board Membership
Benchmarking and Performance Measures
Financial Performance Measures
Nonfinancial Performance Measures
Summary
Key Terms
Selected References
Questions
Cases
Exercises and Problems
Chapter 15 Accounting for Colleges and Universities
Accounting and Financial Reporting Standards
Private Colleges and Universities
Public Colleges and Universities
Reporting and Accounting Issues
Statement of Net Position or Financial Position
Operating Statements
Statement of Cash Flows
Segment Reporting
Illustrative Transactions for Private Colleges and Universities
Adjusting Entries
Closing Entries
Planned Giving
Endowments
Split-interest Agreements
Uniform Prudent Management of Institutional Funds Act
Other Accounting Issues
Performance Measures
Auditing Colleges and Universities
Federal Financial Assistance
Related Entities
Key Terms
Selected References
Questions
Cases
Exercises and Problems
Chapter 16 Accounting for Health Care Organizations
GAAP for Health Care Providers
Reporting and Accounting Issues
Balance Sheet or Statement of Net Position
Operating Statement
Statement of Changes in Net Assets
Statement of Cash Flows
Illustrative Case for a Not-for-Profit Health Care Organization
Other Health Care Issues
Related Entities
Auditing
Taxation and Regulatory Issues
Patient Protection and Affordability Act
Prepaid Health Care Plans
Continuing Care Retirement Communities
Financial and Operational Analysis
Conclusion
Key Terms
Selected References
Questions
Cases
Exercises and Problems
Chapter 17 Accounting and Reporting for the Federal Government
Federal Government Financial Management Structure
Comptroller General
Secretary of the Treasury
Director of the Office of Management and Budget
Director of the Congressional Budget Office
Generally Accepted Accounting Principles for the Federal Government
Hierarchy of Accounting Principles and Standards
Conceptual Framework
Objectives
Reporting Entity
Management’s Discussion and Analysis (MD&A)
Intended Audience
Elements and Recognition Criteria
Communicating Information
Measurement of Elements after Initial Recording
Funds Used in Federal Accounting
General Fund
Special Funds
Revolving Funds
Trust Funds
Deposit Funds
Required Financial Reporting-U.S. Government-wide
Required Financial Reporting-Government Agencies
Agency Head Message
Management’s Discussion and Analysis
Annual Performance Reports (APR)
Annual Financial Statements (AFR)
Other Accompanying Information
Dual-track Accounting System
Illustrative Transactions and Entries
Adjusting Entries
Illustrative Financial Statements
Summary of Accounting and Reporting for Federal Government Agencies
Key Terms
Selected References
Questions
Cases
Exercises and Problems
Glossary
Governmental and Not-for-Profit Organizations
Index
