tailieunhanh - LEGAL SERVICES CORPORATION: ACCOUNTING GUIDE FOR LSC RECIPIENTS

This Guide is designed for use by recipients of LSC funds. The Guide sets forth financial accounting and reporting standards for recipients of LSC funds, and describes the accounting policies, records, and internal control procedures to be maintained by recipients to ensure the integrity of accounting, reporting and financial systems. In addition, the Guide includes illustrative appendices which describe accounting practices and procedures (such as the illustrative financial statements and chart of accounts) acceptable to LSC. These illustrations are not mandatory and do not preclude the exercise of the recipient's professional judgment in developing additional or alternative accounting and reporting procedures that meet LSC requirements. This Guide. | LEGAL SERVICES CORPORATION ACCOUNTING GUIDE FOR LSC RECIPIENTS 2010 Edition Effective August 23 2010 Accounting Guide for LSC Recipients 2010 Edition TABLE OF CONTENTS CHAPTER 1 INTRODUCTION. 1 1-1 Definitions. 1 1-2 Background. 4 1-3 Purpose. 4 1-4 Authority. 5 1-5 Responsibilities of Recipients and the Submission of the Annual Financial Statement 1-6 Responsibilities of the Auditor. 5 1-7 Responsibilities of the Financial Oversight Committee s . 6 1-8 Relationship of the Accounting Guide to LSC Regulations . 7 1-9 Effective Date . 7 1-10 Revisions to the Guide . 7 1- 11 Cumulative Status of Revisions. 8 CHAPTER 2 ACCOUNTING FINANCIAL MANAGEMENT AND REPORTING GUIDELINES .9 2- 1 Accounting Principles. 9 2-2 Financial Management Assets Support and Fund Balances . 11 2-3 Financial Management Expenditures and Liabilities. 18 2- 4 Financial Reporting. 20 Accounting CHAPTER 3 INTERNAL CONTROL FUNDAMENTAL CRITERIA OF AN ACCOUNTING AND FINANCIAL REPORTING SYSTEM . 22 3- 1 Definition . 23 3-2 Objectives . 23 3-3 Characteristics . 23 3-4 Internal Control Structure . 23 3-5 Fundamental Criteria . 24 3-6 Fraud APPENDIX IA ILLUSTRATIVE FINANCIAL STATEMENTS AND NOTES TO THE FINANCIAL STATEMENTS . 54 APPENDIX IB ILLUSTRATIVE MANAGEMENT APPENDIX II DESCRIPTION OF ACCOUNTING APPENDIX III CHART OF APPENDIX IV ACCOUNTING FOR APPENDIX V ACCOUNTING FOR CLIENT TRUST i Accounting Guide for LSC Recipients 2010 Edition APPENDIX VI OTHER REGULATORY FINANCIAL APPENDIX VII ACCOUNTING PROCEDURES INTERNAL CONTROL APPENDIX VIII LIST OF LSC APPENDIX IX GLOSSARY OF .