tailieunhanh - Lecture Advanced accounting (12/e): Chapter 16 - Joe B. Hoyle, Thomas F. Schaefer, Timothy S. Doupnik

Chapter 16 - Accounting for state and local governments (part I). This chapter and the next introduce the principles and practices that underlie state and local government accounting and explain the logic behind their application. | Chapter Sixteen Accounting for State and Local Governments, Part I Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin Importance of Governmental Accounting Absence of profit motive removes an important internal control Allocation of limited resources to unlimited needs creates public debate Focus on sources and uses of funds Need to inform public (stewardship) Massive Federal government 50 State governments Thousands of local governmental units Why is it different than “for profit” businesses? LO 1 16- Importance of Governmental Accounting Absence of profit motive removes an important internal control Allocation of limited resources to unlimited needs creates public debate Focus on sources and uses of funds Need to inform public (stewardship) Massive Federal government 50 State governments Thousands of local governmental units Governmental Accounting Governmental Accounting Standards Board (GASB) generates primary standards. Focuses on financial reporting for non-profit governmental agencies. Many concepts are similar to financial accounting, but terminology and procedures differ. Requires two sets of financial statements 16- Governmental Accounting Governmental Accounting Standards Board (GASB) generates primary standards. Focuses on financial reporting for non-profit governmental agencies. Many concepts are similar to financial accounting, but terminology and procedures differ. Requires two sets of financial statements Government-wide Financial Statements GASB Statement No. 34 Requires the production of two sets of financial statements: Fund Financial Statements Report all revenues and costs with a long term focus. Of interest to creditors, to assess the likelihood of being paid. Show restrictions on the use of resources, and report current revenues and expenditures from certain activities. LO 2 16- Requires the production of two sets of financial statements: Fund Financial Statements Show restrictions on the . | Chapter Sixteen Accounting for State and Local Governments, Part I Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin Importance of Governmental Accounting Absence of profit motive removes an important internal control Allocation of limited resources to unlimited needs creates public debate Focus on sources and uses of funds Need to inform public (stewardship) Massive Federal government 50 State governments Thousands of local governmental units Why is it different than “for profit” businesses? LO 1 16- Importance of Governmental Accounting Absence of profit motive removes an important internal control Allocation of limited resources to unlimited needs creates public debate Focus on sources and uses of funds Need to inform public (stewardship) Massive Federal government 50 State governments Thousands of local governmental units Governmental Accounting Governmental Accounting Standards Board (GASB) generates primary standards. Focuses on .

• Kế toán - Kiểm toán
• Advanced accounting
• Lecture Advanced accounting
• Advanced financial accounting
• Financial statements
• Accounting valuation
• Accounting for state
• Equity method of accounting
• International accounting diversity
• Accounting for legal reorganizations
• Accounting for leases
• Accounting for estates
• Investment accounting
• Consolidation of financial information
• Consolidated financial statements
• Intra entity asset transactions
• Variable interest entities
• Income taxes
• Interim reporting
• Foreign currency transactions
• Foreign currency financial statements
• Exchange commission
• Partnership advantages
• Statement of liquidation