A practical application guide to ensure governmental GAAP compliance In applying Governmental GAAP (Generally Accepted Accounting Principles), state and local government officials face a potential maze of complexity. Wiley GAAP for Government 2004 addresses the latest material from the Government Accounting Standards Board and AICPA in straightforward language for practical application. Coverage includes much-needed analysis and clarification of statements, interpretations, and technical bulletins, as well as special consideration of school districts, public authorities, and individual pension plans. Written for use by practitioners, this book represents an up-to-date companion for implementing these new accounting pronouncements. Warren Ruppel is the assistant comptroller responsible for the accounting and financial reporting for one of the largest cities in the country.
Table of Contents
1. New Developments.
2. Overview of Accounting and Financial Reporting by Governments.
3. Accounting Fundamentals—Fund Accounting Fundamentals and Basis of Accounting/Measurement Focus.
4. The Importance of Budgets to Governments.
5. Financial Statements Prepared by Governments.
6. Definition of the Reporting Entity.
7. General Fund and Special Revenue Funds.
8. Capital Projects Funds.
9. Debt Service Funds.
10. Proprietary Funds.
11. Fiduciary Funds.
12. Capital Assets.
13. Long-Term Obligations.
14. Nonexchange Transactions.
15. Cash and Investments—Valuation and Disclosures.
16. Accounting for Securities Lending Transactions.
17. Compensated Absence Accruals and Disclosures.
18. Employer’s Accounting for Pensions.
19. Accounting for Postemployment Benefits other than Pensions.
20. Interfund and Intra-Entity Transactions.
21. Risk Financing and Insurance-Related Activities/Public Entity Risk Pools.
22. Accounting for Leases.
23. Landfill Closure and Postclosure Care Costs.
24. Public Employee Retirement System Financial Statements.