Core concepts of government and not-for-profit accounting
* Begins with a thorough exploration of the environment and objectives of government and not-for-profit organizations, how they differ from businesses, and how and why the environment and objectives affect the reporting and interpretation of accounting information.
* Discusses the reasons for and advantages and limitations of accounting standards throughout the text.
* Includes problems that give student the opportunity to gain hands-on experience with recording and reporting accounting information, and explore the purpose of standards and the meaning and usefulness of reported information.
* Includes a full chapter on financial analysis for governments and not-for-profit organizations-a topic generally not included in accounting texts.
* Discusses the basic financial statements of Orlando, Florida. Orlando was an early adopter of Statement No. 34 and has now prepared three annual reports under the new standards. Orlando's financial report also is available on the Internet.
* Each of the chapters on government accounting includes questions designed to help students find information related to the chapter topics and understand the meaning of that information.
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The Government and NotForProfit
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$10 million accumulated depreciation actuarial AICPA amount benefits budget business-type activities capital assets capital projects fund cash flows changes in fund Chapter city's component units costs Current Liabilities debt service fund December 31 depreciation donor earned economic employees endowment enterprise fund entity example expenditures fair value FASB fees fiduciary funds financial reporting fiscal full accrual basis fund balance sheet GAAP GASB standards GASB Statement government-wide statements governmental activities governments and not-for-profits grant income infrastructure interest rates internal service fund investment issued journal entries landfill liability long-term debt long-term obligations ments modified accrual basis nonexchange operating organization paid payments percent period permanent fund premium primary government property taxes proprietary funds purchase received recognize revenue record repurchase agreements restricted fund securities September 30 special assessment special revenue fund specific Standard & Poor's statement of activities statement of revenues temporarily restricted tion Total transactions transfer unrestricted users year-end