CONTENTS
THE GOVERNMENT AND NOT-FOR-PROFIT ENVIRONMENT
How Do Governments and Not-for-Profits Compare with Businesses?
IN PRACTICE: Why Is State and Local Government Accounting Important?
What Other Characteristics of Governments and Not-for-Profits Have Accounting Implications?
What Are the Overall Purposes of Financial Reporting?
Who Are the Users and What Are the Uses of Financial Reports?
What Are the Specific Objectives of Financial Reporting as Set Forth by the GASB and FASB?
EXAMPLE: Clash among Reporting Objectives
Do Differences in Accounting Principles Really Matter?
IN PRACTICE: Will Accounting Changes Make a Difference?
Who Establishes Generally Accepted Accounting Principles?
IN PRACTICE: Assessing the Profitability of a Football Program
IN PRACTICE: Governments and Not-for-Profits May Also Be Aggressive in Their Accounting
Questions for Review and Discussion
Questions for Research, Analysis, and Discussion
What Are the Key Elements of Government Financial Statements?
EXAMPLE: Fund Accounting in a School District
How Can Funds Be Combined and Consolidated?
What Are the Main Types of a Government's Funds?
What's Notable about Each Type of Governmental Fund?
What's Notable about Each Type of Proprietary Fund?
What's Notable about Each Type of Fiduciary Fund?
What Is Included in a Government's Comprehensive Annual Financial ...
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