Wiley GAAP for Governments 2005: Interpretation and Application of Generally Accepted Accounting Principles for State and Local Governments / Edition 2by Warren Ruppel
Pub. Date: 02/28/2005
Wiley GAAP for Governments 2005 is a comprehensive guide to the accounting and financial reporting principles used by state and local governments as well as other governmental entities. Financial statement preparers, attestors, and readers will find its full coverage of authoritative accounting standards
The most practical, authoritative guide to governmental GAAP
Wiley GAAP for Governments 2005 is a comprehensive guide to the accounting and financial reporting principles used by state and local governments as well as other governmental entities. Financial statement preparers, attestors, and readers will find its full coverage of authoritative accounting standards coupled with many examples, illustrations, and helpful practice hints extremely useful and user-friendly. Designed with the needs of the user in mind, a "New Developments" chapter keeps you informed of all the important developments in governmental GAAP during the past year. A look ahead to the status of current and future Governmental Accounting Standards Board standards and projects provides information on the very latest in standard-setting activities and covers:
- GASB Statement 43 Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans, which together with Statement No. 45 will radically change the accounting for OPEBs by employers and OPEB plans
- GASB Statement 44 Economic Condition Reporting: The Statistical Section, which updates the comprehensive annual financial report requirements for the statistical section
- GASB Statement 45 Accounting and Financial Reporting by Employers for Postemployment Benefits Other Than Pensions, which will have a major impact on the financial statements of many governmental employers and will require significant implementation planning
- GASB Technical Bulletin No. 2004-1 Tobacco Settlement Recognition and Financial Reporting Entity Issues, which addresses the increasingly common use of separate legal entities to securitize the revenue stream from the state's tobacco settlement agreement
- Exposure Draft Net Assets Restricted by Enabling Legislationan amendment of GASB Statements No. 34 and No. 44, which addresses the circumstances in which a government's own legislation can restrict the use of its own resources
- Exposure Draft on a Concepts Statement, Communication Methods, which will help the GASB determine where new accounting/disclosure requirements will be presentedbasic financial statements, notes, and required supplementary information
- Proposed Technical Bulletin, Recognition of Pension and Other Postemployment Benefit Expenditures/Expenses and Liabilities,which can have an impact on accounting for pension contributions on the modified accrual basis of accounting
Wiley GAAP for Governments 2005 strives to be a thorough, reliable reference that you'll use constantly. It's designed to be kept on your desk rather than on your bookshelf.
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Table of Contents
1. New Developments.
2. Overview of Accounting and Financial Reporting by Governments.
3. Accounting Fundamentals-Fund Accounting Fundamentals and Basis of Accounting/Measurement Focus.
4. The Importance of Budgets to Governments.
5. Financial Statements Prepared by Governments.
6. Definition of the Reporting Entity.
7. General Fund and Special Revenue Funds.
8. Capital Project Funds.
9. Debt Service Funds.
10. Proprietary Funds.
11. Fiduciary Funds.
12. Capital Assets.
13. Long-Term Obligations.
14. Nonexchange Transactions.
15. Cash and Investments-Valuation and Disclosures.
16. Accounting for Securities Lending Transactions.
17. Compensated Absences.
18. Employer's Accounting for Pensions.
19. Accounting for Postemployment Benefits other than Pensions.
20. Interfund and Intra-Entity Transactions.
21. Risk Financing and Insurance-related Activities/Public Entity Risk Pools.
22. Accounting for Leases.
23. Landfill Closure and Postclosure Care Costs.
24. Public Employee Retirement System Financial Statements.
25. Educational Institutions.
26. Other Governmental Entities.
Appendix: Disclosure Checklist.
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