Governmental GAAP Practice Manual (2020) (U.S.)
Demonstrates in a detailed manner how a governmental entity can implement the complex standards established by GASB-34 and beyond through a worksheet approach.
Demonstrates in a detailed manner how a governmental entity can implement the complex standards established by GASB-34 and beyond through a worksheet approach. (A companion publication, Governmental GAAP Guide, discusses financial accounting and reporting standards necessary to prepare the basic external financial statements of a governmental entity.) The emphasis of Governmental GAAP Practice Manual is on the process of preparing financial statements.
Chapter 1 of the Governmental GAAP Practice Manual provides a detailed analysis of the interrelationship between the modified accrual basis of accounting and the accrual basis of accounting. Included is a comprehensive checklist of transactions and events that typically require a worksheet entry.
Starting in Chapter 2 is a comprehensive illustration that continues through the remaining chapters of the book. For governmental funds, a variety of transactions are illustrated and journalized in Chapters 2 through 6, which result in a year-end trial balance for each individual fund based on the modified accrual basis of accounting. In Chapter 14, these trial balances are used as the basis for developing the information needed to prepare the fund financial statements. Chapter 15 illustrates the worksheet methodology for converting the information to the accrual basis. A similar approach is used for proprietary funds and fiduciary funds.
In Chapter 16 the basic financial statements (including the fund financial statements and government-wide statements) are prepared based on the information developed in Chapter 13 and Chapter 14.
Chapter 17 provides a discussion of note disclosure concepts and a listing of the required note disclosures applicable to state and local government financial statements. Chapter 18 discusses and develops information related to management's discussion and analysis and other required supplementary information.
Chapter 19 illustrates combining financial statements that are presented as part of supplementary information included in a governmental entity's Comprehensive Annual Financial Report.
Chapter 20 provides the preparers of financial statements with an in-depth review of the statistical section of the CAFR.
- Governmental Funds
- The General Fund
- Special Revenue Funds
- Capital Project Funds
- Debt Service Funds
- Permanent Funds
- Proprietary Funds
- Enterprise Funds
- Internal Service Funds
- Fiduciary Funds
- Pension (and Other Employee Benefits) Trust Funds
- Private-Purpose Trust Funds
- Investment Trust Funds and Individual investment Accounts
- Agency Funds
- The Consolidation and Conversion Process
- Developing Information for Fund financial statements
- Developing Information for Government-Wide financial statements
- Component Units
- The Financial Statements and Related Disclosures
- Basic Financial Statements
- Notes to the financial statements
- MD&A and Other required Supplementary Information
- Combining and Individual Fund financial Statement Presentations
- Statistical Section
Oct 23, 2019 700 Pages 9780808052616