TAILIEUCHUNG - Lecture Accounting for Governmental and Nonprofit Entities (16/e): Chapter 5 - Jacqueline L. Reck, Suzanne L. Lowensohn

Chapter 5 - Accounting for general capital assets and capital projects. After studying Chapter 5, you should be able to: Describe the nature and characteristics of general capital assets; account for general capital assets, including: acquisition, maintenance, depreciation, impairment, and disposition; explain the purpose, characteristics, and typical financing sources of a capital projects fund | 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 Accounting for General Capital Assets and Capital Projects C H A P T E R 5 2 Learning Objectives 5-1 Describe the nature and characteristics of general capital assets. 5-2 Account for general capital assets, including: acquisition, maintenance, depreciation, impairment, and disposition. 5-3 Explain the purpose, characteristics, and typical financing sources of a capital projects fund. 3 1 Learning Objectives 5-4 Prepare journal entries for a typical capital project, both at the fund level and within the governmental activities category at the government-wide level. 5-5 Prepare financial statements for capital projects funds. 4 2 Capital Assets Capital assets include land, buildings, land and building improvements, construction work in progress, vehicles, machinery, equipment, works of art and historical treasures, infrastructure assets, and intangible assets. They are commonly financed by issuance of long-term debt to be repaid from tax revenues, special assessments against property deemed to be particularly benefited by the long-lived asset, grants from other governments, transfers from other funds, gifts from individuals or organizations, capital leases, or a combination of these resources. Accounting for General Capital Assets Accounting for General Capital Assets Required Disclosures for Capital Assets Capital assets not being depreciated are disclosed separately from assets that are being depreciated General policy for capitalizing assets and for estimating the useful lives of depreciable assets Beginning-of-year and end-of-year balances showing accumulated depreciation separate from historical cost Capital acquisitions during the year Sales or other dispositions during the year Depreciation expense for the current

• 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