Governmental GAAP Practice Manual: Including GASB-34 Guidance demonstrates, in a detailed manner, how governmental entity can implement the complex standards established by GASB-34 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.
 

Contents

Chapter 1

• 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.

Chapter 2

• 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.

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 GASB-34.

The Practice Manual Also Includes an Appendix, Featuring Gasb-34.