Warren Ruppel – Governmental Accounting Made Easy
Clearly explaining how to read and analyze the financial statements of governments and governmental organizations, Governmental Accounting Made Easy assists you-accountant or not-to interpret governmental financial statements. This easy-to-understand book guides the reader in understanding how these individual topics come together to form a whole, under the Governmental Accounting Standards Board 34 (GASB 34) financial reporting model.
This indispensable resource covers
- Basic accounting concepts underlying governmental accounting and financial reporting
- Basis financial statements prepared for a government, including government-wide and fund financial statements
- Note disclosures that accompany governmental financial statementsComplicated accounting issues commonly found in governmental financial statements
- Future issues impacting governmental accounting and financial reporting
Expert advice from Warren Ruppel, author of Wiley GAAP for Governments 2009 Providing a simplified background and discussion of a broad range of governmental accounting topics, Governmental Accounting Made Easy authoritatively and thoroughly guides you through every aspect of governmental accounting and financial reporting.
Table of Contents
- Chapter 1: Introduction and Background
- What Are Generally Accepted Accounting Principles?
- Who Sets Generally Accepted Accounting Principles for Governments?
- Do Governments Need to Comply with Generally Accepted Accounting Principles?
- Why Is Governmental Accounting and Financial Reporting Different from Commercial and Not-for-Profit Accounting and Financial Reporting?
- To What Entities Do Governmental Generally Accepted Accounting Principles Apply?
- Chapter 2: Basic Governmental Accounting Concepts.
- Understanding the Different Bases of Accounting.
- Understanding What Measurement Focuses Are Used by Governments.
- Defining and Understanding the Nature of Assets.
- Defining and Understanding the Nature of Liabilities.
- Defining and Understanding the Nature of Net Assets.
- Chapter 3: Understanding Fund Accounting.
- Fund Fundamentals.
- Governmental Funds.
- Proprietary Funds.
- Fiduciary Funds.
- Chapter 4: Basics of Governmental Financial Statements.
- General-Purpose Financial Statements.
- Management’s Discussion and Analysis.
- The Basic Financial Statements.
- Required Supplementary Information.
- Comprehensive Annual Financial Report.
- Chapter 5: Understanding the Reporting Entity.
- Accountability Focus.
- Financial Reporting Entity Defined.
- Display of Component Units.
- Chapter 6: Revenues from Nonexchange Transactions.
- Classes of Nonexchange Transactions.
- Accounting Requirements.
- Property Taxes.
- Income and Sales Taxes, and Other Derived Tax Revenues.
- Adjustments for the Accrual Basis of Accounting.
- Grants and Other Financial Assistance.
- Chapter 7: Capital Assets.
- Where Are Capital Assets Recorded in the Financial Statements?
- Recording and Valuing Capital Assets.
- Understanding Depreciation.
- Using the Modified Approach in Lieu of Depreciating Infrastructure Assets.
- The Basics of Capitalized Interest.
- Capital Assets Resulting from Capital Lease Transactions.
- Impairments of Capital Assets.
- Chapter 8: Accounting for Pensions.
- GASBS 27 Requirements for Defined Benefit Plans.
- Calculation of the ARC.
- Parameters for Actuarial Calculations, Including the ARC.
- Net Pension Obligation.
- Recording Pension-Related Assets, Liabilities, and Expenditures/Expenses.
- Pension Disclosures.
- Employers with Defined Contribution Plans.
- Chapter 9: Sundry Accounting Topics.
- Accounting for Investments.
- Reporting Unrealized Gains or Losses.
- Investment and Deposit Disclosures.
- Compensated Absence Accruals.
- Landfill Closure and Postclosure Care Costs.
- Derivatives, Including Interest Rate Swaps.
- Securities Lending Transactions.
- Chapter 10: Upcoming Developments in Governmental Accounting.
- Other Postemployment Benefits.
- Economic Condition Reporting—Statistical Section.
- Derivatives and Hedging.
- Pollution Remediation Obligations.
- Net Asset and Fund Balance Reporting.
- Service Efforts and Accomplishments (SEA) Reporting.
Warren Ruppel, CPA, began his career at KPMG Peat Marwick in 1979 and joined Deloitte & Touche in 1989 to specialize in audits of not-for-profit organizations and governments. He has since served as the chief financial officer of an international not-for-profit organization and as the assistant comptroller responsible for the accounting and financial reporting for one of the largest cities in the United States.
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