Wiley GAAP for Governments 2015: Interpretation and Application of Generally Accepted Accounting Principles for State and Local Governments

11 DEFINITION OF THE REPORTING ENTITY

Introduction

Background

Accountability Focus

Financial Reporting Entity Defined

Primary Government

Separate legal standing

Determining fiscal independence or dependence

Component units

Financial accountability

Concept of fiscal dependency

GASB Statement No. 61 (GASBS 61), The Financial Reporting Entity—An Amendment of GASB Statements No. 14 and No. 34

Determining Whether Certain Fund-Raising Organizations Are Component Units—Amendment of GASB Statement No. 14

Reporting of Component Units

Other Organizations That Are Included in the Reporting Entity

GASB Technical Bulletin 2004-1 – Tobacco Settlement Recognition and Financial Reporting Entity Issues (GASBTB 2004–1)

Display of Component Units

Overview of Reporting Component Units

Discrete Presentation of Component Units

Government-wide financial statements

Required disclosures

Blended Component Units

Why blend some component units?

Determination of blended component units

Other reporting entity issues

Government Combinations and Disposals of Government Operations

Identifying Government Combinations

Types of Government Combinations

Government Mergers

New governments

Continuing governments

Reporting Government Mergers in Governmental Fund Financial Statements

Recognition and Measurement of Government Acquisitions

Exceptions to the use of acquisition value

Consideration

Acquisition costs

Intra-Entity Government Acquisitions

Reporting Government Acquisitions on a Provisional Basis

Reporting Government ...