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Wiley GAAP for Governments 2013: Interpretation and Application of Generally Accepted Accounting Principles for State and Local Governments by Warren Ruppel

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CHAPTER 23

EDUCATIONAL AND OTHER GOVERNMENTAL ENTITIES

Introduction

School Districts

Legal Compliance

Fund Accounting

Reporting Entity

Governmental Colleges and Universities

Reporting entity considerations

Costs of Activities That Include Fund-Raising

Allocation methods

Incidental activities

Special-Purpose Governments

Governmental Hospitals and Other Health-Care Providers

Reporting Entity Considerations

Governmental Not-for-Profit Organizations

Other Public Benefit Corporations

Utilities

Summary

INTRODUCTION

This chapter discusses the broad accounting and financial reporting requirements and practices for several groups of governmental organizations.

  • School districts
  • Governmental colleges and universities
  • Governmental hospitals and other health-care providers
  • Governmental not-for-profit organizations
  • Other public benefit corporations

SCHOOL DISTRICTS

In examining the accounting and financial reporting for school districts, the main area to examine is how the accounting and financial reporting for school districts would differ from that for general-purpose governments, which has been described throughout this guide.

First, school districts are governmental entities subject to the jurisdiction of the Governmental Accounting Standards Board (GASB). Second, school districts would prepare a Comprehensive Annual Financial Report (CAFR) in conformity with GAAP, as would any general-purpose government.

Beyond these commonalties, however, there are some practical differences likely to ...

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