TAILIEUCHUNG - Lecture Accounting for Governmental and Nonprofit Entities (16/e): Chapter 1 - Jacqueline L. Reck, Suzanne L. Lowensohn

Chapter 1 - Introduction to accounting and financial reporting for Governmental and Not-for-Profit Entities. After studying Chapter 1, you should be able to: Identify and explain the characteristics that distinguish governmental and not-for-profit entities from for-profit entities; identify the authoritative bodies responsible for setting GAAP and financial reporting standards for all governmental and not-for-profit organizations. | Accounting for Governmental & Nonprofit Entities JACQUELINE L. RECK SUZANNE L. LOWENSOHN 17/e Copyright © 2016 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 1 Introduction to Accounting and Financial Reporting for Governmental and Not-for-Profit Entities C H A P T E R 1 Learning Objectives 1. Identify and explain the characteristics that distinguish governmental and not-for-profit entities from for-profit entities Identify the authoritative bodies responsible for setting GAAP and financial reporting standards for all governmental and not-for-profit organizations Contrast and compare the objectives of financial reporting for state and local governments, the federal government, and not-for-profit organizations 3 1 Learning Objectives 4. Explain the minimum requirements for general purpose external financial reporting of state and local governments and how they relate to comprehensive annual financial reports 5. Identify and describe the required financial statements for the federal government, and not-for- profit organizations 4 2 Government & Not-for-Profit Accounting Practices Differ from Business Types of Governments Not-for-Profit Organizations Not-for-profit organizations are legally separate organizations which are usually exempt from federal, state, and local taxation. 7 Characteristics of Government and Not-for-Profit Organizations 8 Characteristics of Government Organizations 9 Sources of GAAP and Financial Reporting Standards 10 “Accountability is the cornerstone of all financial reporting in government Accountability requires governments to answer to the citizenry—to justify the raising of public resources and the purposes for which they are used.” -GASB Concepts Statement No. 1 Objectives of Financial Reporting 11 Interperiod equity is a government’s obligation to disclose whether current-year revenues were sufficient to pay for current-year benefits—or will future

• Kế toán - Kiểm toán
• Accounting for Governmental
• Nonprofit entities
• Accounting for Nonprofit Entities
• Financial reporting
• Financial reporting standards
• Financial reporting for Governmental
• Not for profit organizations
• 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
• 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
• 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