TAILIEUCHUNG - Lecture note Government and not-for-profit accounting: Concepts and practices (7/e) – Chapter 4: Recognizing revenues in governmental funds

Chapter 4 - Recognizing revenues in governmental funds. After studying chapter 4, you should understand: Why focus on current financial resources and the modified accrual basis for governmental funds, why focus on economic resources and the full accrual basis for government-wide financial statements, distinction between the modified accrual and full accrual basis of accounting,. | Chapter 4 Recognizing Revenues in Governmental Funds © 2016 John Wiley & Sons, Inc. All rights reserved. 1 1 Thoughts to Ponder: Chapter 4 “The thing generally raised on city land is taxes.” - Charles Dudley Warner “For every benefit you receive a tax is levied.” - Ralph Waldo Emerson “Taxes are the sinews of the state.” - Cicero © 2016 John Wiley & Sons, Inc. All rights reserved. 2 2 Learning Objectives Why focus on current financial resources and the modified accrual basis for governmental funds Why focus on economic resources and the full accrual basis for government-wide financial statements Distinction between the modified accrual and full accrual basis of accounting Differentiate between exchange and non-exchange transactions Main types of non-exchange transactions © 2016 John Wiley & Sons, Inc. All rights reserved. 3 Measurement Focus and Basis of Accounting Entity’s measurement focus What is being reported upon? Which assets, liabilities, and deferrals are being .

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• Accounting for governmental
• Not for profit organizations
• Financial reporting for governmental
• Not for profit accounting
• Recognizing revenues
• Governmental funds
• Budgetary accounting
• Government wide financial statements
• 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
• 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