Governmental GAAP Practice Manual demonstrates in a detailed manner how a
governmental entity can implement the complex standards established by GASB-34
and beyond through a worksheet approach. (A companion publication, Governmental
GAAP Guide, discusses financial accounting and reporting standards necessary to
prepare the basic external financial statements of a governmental entity.) The
emphasis of Governmental GAAP Practice Manual is on the process of preparing
financial statements.
- Chapter 1 of the Governmental GAAP Practice Manual provides a detailed
analysis of the interrelationship between the modified accrual basis of
accounting and the accrual basis of accounting. Included is a comprehensive
checklist of transactions and events that typically require a worksheet entry.
- Starting in Chapter 2 is a comprehensive illustration that continues
through the remaining chapters of the book.
- For governmental funds, a variety of transactions are illustrated and
journalized in Chapters 2 through 6, which result in a year-end trial balance
for each individual fund based on the modified accrual basis of accounting.
- In Chapter 14, these trial balances are used as the basis for developing
the information needed to prepare the fund financial statements.
- Chapter 16 illustrates the worksheet methodology for converting the
information to the accrual basis. A similar approach is used for proprietary
funds and fiduciary funds.
- Chapter 17 uses the information developed in previous chapters to present
management's discussion and analysis, notes, and other required supplementary
information mandated by the GASB standards.
Topics and Content
- Governmental Funds
- The General Fund
- Special Revenue Funds
- Capital Project Funds
- Debt Service Funds
- Permanent Funds
- Proprietary Funds
- Enterprise Funds
- Internal Service Funds
- Fiduciary Funds
- Pension (and Other Employee Benefits) Trust Funds
- Private-Purpose Trust Funds
- Investment Trust Funds and individual Investment Accounts
- Agency Funds
- The Consolidation and Conversion Process
- Developing information for Fund Financial Statements
- Developing information for Government-Wide Financial Statements
- Component UnitsThe Financial Statements and Related Disclosures
- Basic Financial Statements
- Notes to the Financial Statements
- MD&A and Other Required Supplementary information
- Combining and individual Fund Financial Statement Presentations
- Statistical Section