TAILIEUCHUNG - Lecture Essentials of accounting for governmental and not-for-profit organizations (12/e) – Chapter 14

Chapter 14 - Financial reporting by the federal government. In this chapter students will be able to: Describe the reporting requirements of federal agencies and the US government; understand the purpose and composition of the required financial statements of federal government units; prepare journal entries for typical transactions of a federal government unit, applying budgetary and proprietary accounting practices. | Essentials of Accounting for Governmental and Not-for-Profit Organizations Chapter 14 Financial Reporting by the Federal Government Copyright © 2015 McGraw-Hill Education. All rights reserved. Chapter 14 – Learning objectives Describe the reporting requirements of federal agencies and the US government. Understand the purpose and composition of the required financial statements of federal government units. Prepare journal entries for typical transactions of a federal government unit, applying budgetary and proprietary accounting practices. Federal Accounting Standards The Office of Management and Budget, together with the Government Accountability Office (GAO) and the Department of the Treasury are the primary organizations charged with financial management of the federal government. Together they created the Federal Accounting Standards Advisory Board. Federal Accounting Standards Federal Accounting Standards Advisory Board (FASAB). The purpose of the FASAB is to develop and issue federal accounting standards. The Board is comprised of ten members: two from the executive branch, two from the legislative and six who are not employees of the federal government. Federal Accounting Standards Advisory Board The standards (called Statements of Federal Financial Accounting Standards) are recognized as the highest level of authoritative standard in the AICPA’s Code of Professional Conduct for federal government entities. Like the FASB and GASB, the FASAB has developed a conceptual framework to guide the Board in the development of new standards Reporting requirements of federal agencies – Financial Statements Balance Sheet, Statement of Net Cost Statement of Changes in Net Position Statement of Budgetary Resources Statement of Custodial Activity (if applicable), and Statement of Social Insurance (if applicable). Reporting requirements of federal agencies – Financial Statements Balance Sheet - Assets and liabilities are measured on the accrual basis. The difference .

• Kế toán - Kiểm toán
• Accounting for governmental
• Not for profit organizations
• Financial reporting for governmental
• Financial reporting
• The federal government
• Federal accounting standards
• Budgetary accounting
• Government wide financial statements
• 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 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