Governmental Accounting Made Easy
by Ruppel, WarrenEdition: 2nd
Format: Hardcover
Pub. Date: 2009-10-26
Publisher(s): Wiley
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Summary
Government Accounting Made Easy provides a simplified background and discussion of a broad range of governmental accounting topics. The book guides the reader in understanding how these individual topics come together to form a whole, under the new Governmental Accounting Standards Board 34 (GASB 34) financial reporting model. With the new model in place, the GASB has undertaken many new initiatives to address how many individual accounting matters are reported. The book shows how to read and analyze the financial statements of governments. The focus is on assisting non-accountants or accountants with little or no governmental accounting experience to be able to interpret what they read in governmental financial statements.
Author Biography
Warren Ruppel, CPA, is the author of four Wiley accounting publications, including Wiley GAAP for Governments. He is a partner in the Nonprofit and Government Services Group of Marks Paneth & Shron LLP in New York. He began his career at KPMG in 1979 and joined Deloitte & Touche in 1989 to specialize in audits of not-for-profit organizations and governments. Mr. Ruppel has served as the chief financial officer of an international not-for-profit organization and as the Assistant Comptroller for Accounting of The City of New York, where he was responsible for all aspects of the City's accounting and financial reporting.
Table of Contents
| Preface | p. ix |
| Introduction and Background | p. 1 |
| What Are Generally Accepted Accounting Principles? | p. 1 |
| Who Sets Generally Accepted Accounting Principles for Governments? | p. 5 |
| Do Governments Need to Comply with Generally Accepted Accounting Principles? | p. 9 |
| Why Is Governmental Accounting and Financial Reporting Different from Commercial and Not-for-Profit Accounting and Financial Reporting? | p. 10 |
| To What Entities Do Governmental Generally Accepted Accounting Principles Apply? | p. 15 |
| Basic Governmental Accounting Concepts | p. 19 |
| Understanding the Different Bases of Accounting | p. 20 |
| Understanding What Measurement Focuses Are Used by Governments | p. 26 |
| Defining and Understanding the Nature of Assets | p. 29 |
| Defining and Understanding the Nature of Liabilities | p. 43 |
| Defining and Understanding the Nature of Net Assets | p. 49 |
| Understanding Fund Accounting | p. 55 |
| Fund Fundamentals | p. 56 |
| Governmental Funds | p. 58 |
| Proprietary Funds | p. 75 |
| Fiduciary Funds | p. 82 |
| Basics of Governmental Financial Statements | p. 89 |
| General-Purpose Financial Statements | p. 90 |
| Management's Discussion and Analysis | p. 90 |
| The Basic Financial Statements | p. 94 |
| Required Supplementary Information | p. 137 |
| Comprehensive Annual Financial Report | p. 139 |
| Understanding the Reporting Entity | p. 147 |
| Background | p. 148 |
| Accountability Focus | p. 149 |
| Financial Reporting Entity Defined | p. 150 |
| Display of Component Units | p. 161 |
| Revenues from Nonexchange Transactions | p. 169 |
| Classes of Nonexchange Transactions | p. 170 |
| Accounting Requirements | p. 172 |
| Property Taxes | p. 175 |
| Income and Sales Taxes, and Other Derived Tax Revenues | p. 177 |
| Adjustments for the Accrual Basis of Accounting | p. 180 |
| Grants and Other Financial Assistance | p. 182 |
| Capital Assets | p. 187 |
| Where Are Capital Assets Recorded in the Financial Statements? | p. 188 |
| Recording and Valuing Capital Assets | p. 189 |
| Understanding Depreciation | p. 193 |
| Using the Modified Approach in Lieu of Depreciating Infrastructure Assets | p. 197 |
| The Basics of Capitalized Interest | p. 200 |
| Capital Assets Resulting from Capital Lease Transactions | p. 206 |
| Intangible Assets | p. 215 |
| Impairments of Capital Assets | p. 217 |
| Accounting for Pensions and Other Postemployment Benefits | p. 225 |
| Requirements for Defined Benefit Pension and OPEB Plans | p. 229 |
| Calculation of the ARC | p. 232 |
| Parameters for Actuarial Calculations, Including the ARC | p. 233 |
| Net Pension or OPEB Obligation | p. 242 |
| Recording Pension- and OPEB-Related Assets, Liabilities, and Expenditures/Expenses | p. 243 |
| Pension and OPEB Disclosures | p. 245 |
| Employers with Defined Contribution Plans | p. 246 |
| Sundry Accounting Topics | p. 249 |
| Accounting for Investments | p. 249 |
| Reporting Unrealized Gains or Losses | p. 252 |
| Investment and Deposit Disclosures | p. 253 |
| Compensated Absence Accruals | p. 255 |
| Landfill Closure and Postclosure Care Costs | p. 262 |
| Derivatives, Including Interest Rate Swaps | p. 269 |
| Securities Lending Transactions | p. 281 |
| Upcoming Developments in Governmental Accounting | p. 287 |
| Pension (and OPEB) Accounting-Revisited | p. 288 |
| Index | p. 293 |
| Table of Contents provided by Ingram. All Rights Reserved. |
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