tailieunhanh - ACCOUNTING RECORDS AND SOURCE DOCUMENTATION

Commonly referred to as the “Yellow Book,” it contains standards for audits of government organizations, programs, activities, and functions, and of governmental funds received by contractors, nonprofit organizations, and other non-government organizations. Revisions are issued as required by the Comptroller General of the . Private, nonprofit organization which has actively supported the advancement of governmental accounting, auditing, and financial reporting since 1906. Official promulgations by the Governmental Accounting Standards Board (GASB) and, if not superseded, part of generally accepted accounting principles applicable to state and local governmental entities. Group authorized by the accounting profession to establish. | ACCOUNTING RECORDS AND SOURCE DOCUMENTATION ACCOUNTING RECORDS AND SOURCE DOCUMENTATION May 1994 Introduction Criteria for Accounting Documents and Records Accouting Procedures Manaul Chart of Accounts Nine Principles Governing Accounting Records Introduction As noted in the previous chapter an essential element of an effective financial management system is maintaining adequate accounting records and source documents. Accounting documents and records are the physical objects upon which transactions are entered and summarized. Examples include such items as cancelled checks paid bills payrolls subsidiary ledgers bank reconciliations etc. This chapter discusses a number of general and specific principles governing accounting records and source documents that recipients of state DHSS funds must meet. A few of the broad essential requirements are accounting records must be supported by such source documentation as cancelled checks paid bills payrolls time and attendance records contract and subcontract award documents etc grantees and subgrantees must maintain records which adequately identify the source and application of funds provided for financially assisted activities accounting records must contain information pertaining to grant or subgrant awards and authorizations obligations unobligated balances assets liabilities outlays or expenditures and income and documents must be adequate to provide reasonable assurance that all assets are properly controlled and that all transactions and events are properly identified and recorded. Grantees must meet these and other standards for adequate accounting records for several reasons. Both the accounting documents of original entry and the records upon which transactions are entered are essential elements of the internal control structure. Without adequate records the entity cannot effectively control fiscal operations through standard budgetary and fiscal reporting processes. Not maintaining adequate records also increases