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Inhaltsverzeichnis Preface vii 1 The Government and Not- for- Profit Environment 1 How Do Governments and Not- For- Profits Compare With Businesses? 2 In Practice: Why Is State And Local Government Accounting Important? 6 What Other Characteristics of Governments and Not- For- Profits Have Accounting Implications? 9 How Do Governments Compare With Not-For- Profits? 12 What Are The Overall Purposes of Financial Reporting? 14 Who are The Users, and What are The Uses of Financial Reports? 14 What are The Specific Objectives of Financial Reporting As Set Forth By The GASB and The FASB? 17 Example: Clash Among Reporting Objectives 19 Do Differences In Accounting Principles Really Matter? 22 In Practice: Will Accounting Changes Make A Difference? 24 Who Establishes Generally Accepted Accounting Principles? 24 In Practice: Assessing the Profitability of An Athletic Program 25 In Practice: Governments and Not- For- Profits May Also Be Aggressive In Their Accounting 26 Summary 29 Key Terms In This Chapter 30 Questions For Review and Discussion 30 Exercises 31 Continuing Problem 33 Problems 33 Questions For Research, Analysis, And Discussion 37 2 Fund Accounting 38 What is a Fund? 39 What are the Key Elements of Government Financial Statements? 39 What Characterizes Funds? 41 Use of Multiple Funds to Account for An Entity 44 Basis of Accounting and Measurement Focus 45 Example: Fund Accounting in a School District 46 Major VS. Nonmajor Funds 49 How Can Funds be Combined and Consolidated? 49 What are the Main Types of a Government's Funds? 59 What's Notable About Each Type of Governmental Fund? 61 What's Notable About Each Type of Proprietary Fund? 64 What's Notable About Each Type of Fiduciary Fund? 70 What is Included in a Government's Annual Comprehensive Financial Report (ACFR)? 71 Example: Government-Wide Statement of Activities 74 How Do the Funds and Annual Reports of Not-For-Profits Differ From Those of Governments? 75 Summary 78 Key Terms In This Chapter 80 Exercise for Review and Self-Study 80 Questions for Review and Discussion 81 Exercises 82 Continuing Problem 85 Problems 86 Questions for Research, Analysis, and Discussion 91 Solution to Exercise for Review and Self-Study 92 3 Issues of Budgeting and Control 95 What are the Key Purposes of Budgets? 96 Why is More Than One Type of Budget Necessary? 96 How are Expenditures and Revenues Classified? 98 Why are Performance Budgets Necessary? 99 What are the Key Phases of the Budget Cycle? 101 In Practice: Budgeting In The Midst of a Pandemic 103 On What Basis of Accounting are Budgets Prepared? 105 In Practice: States Balance Their Budgets the Painless Way 106 In Practice: The Cost of GAAP 107 In Practice: Balancing the Budget by Selling Assets to Yourself 108 What Cautions Must be Taken in Budget-to-Actual Comparisons? 108 How Does Budgeting in Not-For-Profit Organizations Compare with that in Governments? 111 How Do Budgets Enhance Control? 112 What are the Distinctive Ways Governments Record Their Budgets? 114 Example: Budgetary Entries 115 An Alternative Method: Crediting or Debiting the Difference Between Revenues and Expenditures to "Budgetary Control" 117 How Does Encumbrance Accounting Prevent Overspending? 117 Example: The Encumbrance Cycle-Year 1 118 Example: The Encumbrance Cycle-Year 2 120 Example: Impact of Encumbrances on Fund Balance 121 Are Budgetary and Encumbrance Entries Really Needed? 124 Summary 125 Key Terms in this Chapter 125 Exerci...
