9780838907580

Accounting for Libraries and Other Not-for-Profit Organizations

by
  • ISBN13:

    9780838907580

  • ISBN10:

    083890758X

  • Edition: 2nd
  • Format: Hardcover
  • Copyright: 1999-07-01
  • Publisher: Amer Library Assn

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Table of Contents

Preface xi
PART 1 The Foundations of Fund Accounting 1(120)
Where Are We Headed?
3(7)
Who Should Use This Book?
3(2)
Why Set Accounting Standards?
5(1)
Who Sets Accounting Standards for NFOs?
5(2)
What Is Fund Accounting?
7(1)
What about Audits?
8(1)
Summary
8(2)
Those Pesky Debits and Credits
10(29)
What's an Asset?
13(1)
What's a Liability?
14(2)
What's the Fund Balance?
16(1)
The Accounting Equation
17(1)
Analyzing Debit and Credit Changes in Assets and Liabilities
18(1)
Using Transaction Analysis with Assets and Liabilities
19(5)
What Are Revenues, Expenses, and Expenditurs?
24(3)
Analyzing Debit and Credit Changes in Revenue and Expense Accounts
27(1)
Using Transaction Analysis with Revenues and Expenses
28(5)
Analyzing Transactions, Journalizing, and Posting
33(2)
Summary
35(4)
Which Accounting System Are We Using?
39(39)
Cash Basis versus Accrual Method
39(2)
Accrual Basis versus Modified Accrual Method
41(6)
Accounting under the Cash, Accrual, and Modified Accrual Systems
47(8)
Adjusting Entries
55(4)
Financial Statements
59(2)
Comparisons between Accrual- and Cash-based Financial Statements
61(5)
Modifid-Accrual Statments Compared with Cash and Accrual Statements
66(2)
Why a Fund Balance Rather Than Net Assets
68(2)
Audits of NFOs
70(3)
Summary
73(5)
Making Budget Dollars Make Sense
78(26)
Estimated Revenues and Appropriations
79(10)
Estimated Revenues, Revenues, and the Revenue Ledger
89(3)
Encumbrances, Reserve for Encumbrances, and Expenditures
92(8)
Summary
100(4)
End of a Year: Closing Entries
104(17)
Closing Temporary Accounts
105(6)
Outstanding Encumbrances in Subsequent Year
111(3)
Review of the Fund Accounting Cycle
114(1)
Summary
115(3)
Appndix: Closing Accounts with Outstanding Encumbrances
118(3)
PART 2 Accounting for the Major Fund Groups 121(152)
Introduction to the Twin Funds: The General and Special Revenue Funds
123(27)
The Financial Statements
124(1)
Combined Statement of Revenues, Expenditures, and Changes Fund Balances
125(2)
The Balance Sheet
127(5)
Statement of Revenues, Expenditures, and Changes in Fund Balance---Budget and Actual
132(2)
Notes to the Financial Statements
134(7)
Summary
141(1)
Appendix: Using the Accrual Method
142(8)
The General Fund and Special Revenue Fund with Journal Entries
150(28)
Allotments
150(2)
The General Fund
152(17)
Special Revenue---State Grant Program
169(2)
Summary
171(1)
Appendix: The Financial Statements
172(6)
The Capital Projects Fund and the General Fixed Assets Account Group
178(28)
The Capital Projects Fund
179(11)
General Fixed Assets Account Group
190(12)
Summary
202(4)
Endowment and Agency Funds
206(29)
The Trust Fund: An Overview
207(2)
Trust Fund Financial Statements
209(11)
Typical Entries for Trust Funds
220(8)
Investment Pools
228(3)
Agency Funds
231(2)
Summary
233(2)
Combined Financial Statements and Analysis of the Results of Performance
235(38)
Combined Financial Statements
237(16)
Analysis of the Financial Statements
253(1)
Financial Ratio Analysis
254(7)
Performance Ratio Analysis
261(9)
Summary
270(3)
Answers to the Exercises 273(30)
Glossary 303(12)
Index 315

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