TAILIEUCHUNG - Lecture Essentials of accounting for governmental and not-for-profit organizations (12/e) – Chapter 8

Chapter 8 - Government-wide financial statements; capital assets and long-term debt. In this chapter students will be able to: Perform the steps necessary to prepare government-wide financial statements, record events and transactions related to general capital assets and long-term debt. | Essentials of Accounting for Governmental and Not-for-Profit Organizations Chapter 8 Government-Wide Financial Statements; Capital Assets and Long-term Debt Copyright © 2015 McGraw-Hill Education. All rights reserved. Chapter 8 – Learning Objectives Perform the steps necessary to prepare government-wide financial statements: Prepare worksheet entries to convert the governmental funds records to the accrual basis of accounting Prepare worksheet entries to include internal service funds with governmental activities Prepare required schedules reconciling the government-wide and fund-basis statements Record events and transactions related to general capital assets and long-term debt Overview of Entity-Wide Conversion Process Entity-wide statements are prepared at year end by converting government type funds to the accrual basis; including inclusion of depreciation, long-term assets and long-term liabilities, Adding in the asset and liability balances from internal service funds along with any income earned through transactions with external parties, consolidating fund statements (other than fiduciary funds). Fiduciary Funds are not included in government-wide Enterprise funds are entered directly into the business activities columns of the government-wide statements. Governmental funds are converted to the Accrual Basis and Economic Resource Measurement Focus through worksheet entries and then appear in the Governmental Activities columns of the government-wide statements. Internal Service Funds are added to Governmental Activities through worksheet entries. Government-wide Statement of Net Position and Statement of Activities Worksheet Approach Enter amounts from governmental funds fund-basis statements here Enter journal entries to convert to the accrual basis here Enter journal entries to incorporate internal service funds here Carry these amounts into the governmental activities column of the government-wide statements Worksheet Approach Long-term assets and .

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• Accounting for governmental
• Not for profit organizations
• Financial reporting for governmental
• Government wide financial statements
• Capital assets
• Long term debt
• Budgetary accounting
• Governmental funds
• Governmental accounting course
• Competencies of recent graduate
• Gap between Theory and Practice
• Governmental accounting education
• Governmental accounting technique
• Nonprofit entities
• Accounting for Nonprofit Entities
• Governmental organizations
• Performance budgeting
• Budgeting governmental
• Governmental operating statement accounts
• Not for profit accounting
• Recognizing revenues
• Recognizing expenditures
• Generally accepted accounting
• Local government financial reporting
• Reporting perspectives
• Financial reporting
• Financial reporting standards
• Tax exempt organizations
• Performance evaluation
• Governmental auditing
• Accounting information
• Fund financial statements
• Governmental financial performance
• Performance measurement
• Accounting for colleges
• Other accounting issues
• Accounting for hospitals
• Health care providers
• Fund accounting
• Revenue funds
• Special revenue funds
• Local governments
• Required financial statements
• Internal financial trend monitoring
• Financial position
• Single audits
• Audit process
• Statement of cash flows
• Performance measures
• Annual compliance reporting
• Operating statements