Government Accounting Textbook Pdf

[Keri Gamrath]

TheGAAFR serves as a comprehensive introduction to public sector accounting and auditing for experienced finance professionals new to state and local government; a practical guide for new staff; a reference tool for accounting and auditing staff; and a textbook for college-level classes on governmental accounting, auditing, and financial reporting.

This edition also includes the use of illustrative journal entries, exercises and explanation of answers, and citations to the Governmental Accounting Standards Board (GASB) Codification.

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Fundamentals of Governmental Accounting and Reporting features the foundational tenets of governmental accounting and reporting in today's environment. Featuring updated accounting for GASB Statement No. 84, and fiduciary activities, this work reviews underlying concepts and shows how they are applied through real-life examples of CAFR, financial statements and updates of recent GASB standards.Key areas covered include:

Our offering of accounting self-study CPE courses includes individual self-study courses on The Yellow Book, which comprises the Generally Accepted Government Accounting Standards for auditors of government entities and entities that receive government awards. Yellow Book CPE courses from Surgent keep you up-to-date on the latest developments from the U.S. Government Accounting Office (GAO) with an array of accounting CPE Self-Study courses that cover the topic from every angle.

In addition to individual Yellow Book-approved self-study courses, Surgent also offers a Self-Study Yellow Book Package, which provides an easy way to fulfill the 24-hour Yellow Book requirement. Learn more about the Yellow Book Package.

With extensive experience in teaching, working at all three levels of government, setting accounting standards, and auditing financial statements, we know that accounting standards have become increasingly complex in an increasingly complex world. Therefore, we wrote this text on governmental and nonprofit financial accounting and reporting with one key objective: to make it easy to read and understand. To accomplish this objective, we followed this general approach: discuss the accounting principle, show the journal entry, provide an illustration.

This text is written for college students (both accounting and public administration majors) and for practitioners. To permit use by different types of readers, its 15 chapters cover not only the specialized financial accounting and reporting standards applicable to the governmental and nonprofit sectors, but also the basic processes of business-type accounting. Those who have not had a course in basic accounting or who need a brief refresher can start with Chapter 15 (Fundamentals of Accounting) and draw selectively on the governmental, nonprofit, health care, and financial statement analysis chapters. Because of its flexibility, this text can be used by all of the following:

2. Public administration majors who have had no previous accounting training but who need a basic understanding of general, governmental, nonprofit, and health care accounting; financial reporting; and financial statement analysis

To prepare for the practice of accounting, auditing, and financial management, students must be able to visualize the application of accounting theory to real-world situations. Therefore, we use illustrations based on financial statements issued by actual governments and nonprofit organizations. For example,

2. To enliven the text, we include a special feature that we call Governmental (or Nonprofit) Accounting in Practice or Federal Financial Reporting in Practice. For example, our detailed discussion of the financial status of Social Security helps illustrate the extensive amount of detail provided in the annual financial report prepared by the United States government; and our discussion of the procedures used by Charity Navigator to assess the financial performance of nonprofit entities helps illustrate the nature of the data provided in nonprofit financial statements.

Governmental accounting is generally taught after students have learned the theory of accrual accounting and the journal entries needed to record accrual-related transactions and events. Because of this, some students have difficulty grasping both the concepts underlying the modified accrual basis/financial resources measurement focus used in governmental-type funds and the accounting and financial reporting implications. Therefore, Chapters 2 and 4 introduce the topic and Chapter 5 reinforces and expands upon the earlier discussion.

Keeping an accounting text up-to-date can be challenging because accounting standards-setters are invariably working on new standards while the text is being written. This edition takes account of all standards issued by the Governmental Accounting Standards Board through GASB Statement No. 87 and even refers to statements in progress while the text was being written.

We also include illustrations for the material covered in the chapters on nonprofit organizations. These illustrations and related discussion conform to the new FASB standards for nonprofits issued in August 2016.

Governmental and nonprofit accounting can be difficult for students who have been exposed only to commercial accounting. To help students comprehend the governmental and nonprofit accounting concepts, a guided example is included with each learning objective. The guided examples allow students to do an exercise that reinforces the accounting concept or application discussed in that section. Answers for the guided examples are provided at the end of each chapter, and a corresponding Guided Example video where the authors explain the thought process used to solve the review is available on our online homework platform, myBusinessCourse.

Robert Madera Distinguished Professor of Accounting and Chair of the Accounting, Management Information Systems, and Legal Studies Department of the Dillard College of Business Administration at Midwestern State University in Wichita Falls, Texas

Dr. Patton began his career in public accounting, where he audited local governments. Later, he served as a project manager and as the research manager for the Governmental Accounting Standards Board. He has coauthored a governmental accounting book for practitioners, Guide to Governmental Financial Reporting Model: Implementing GASBS No. 34, and another governmental accounting textbook published by Pearson Prentice Hall.

He has published articles in the Accounting Review, Accounting Horizons, the Journal of Accounting and Public Policy, and the Journal of Public Budgeting, Accounting, and Financial Management, among others. Dr. Patton regularly speaks to accounting professionals on state and local governmental accounting topics.

Dr. Patton has served as a board member on numerous nonprofit boards of directors. Currently, he serves on the board of the BBB Serving North Central Texas. He is also a board member and chair of United Regional Healthcare System and the Wichita Falls Alliance for Arts and Culture.

Before entering the academic world, Mr. Ives was Vice Chair and Director of Research of the Governmental Accounting Standards Board, First Deputy Comptroller of the City of New York, Deputy Comptroller of the State of New York, and a member of the Federal Accounting Standards Advisory Board.

In addition to this text, Mr. Ives is the author of the textbook Assessing Municipal Financial Condition, coauthor of the textbook Government Performance Audit in Action, and coauthor of Program Control and Audit and Financial Condition Analysis and Management. He has also written chapters for books on auditing and municipal finance, has authored about 30 articles for the Journal of Government Financial Management, the Journal of Accountancy, the Internal Auditor, the Municipal Finance Journal, and other professional journals, and has spoken to numerous professional and civic organizations.

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Terry K. Patton, PhD, CPA, CGFM, CGMA, is the Robert Madera Distinguished Professor of Accounting and former dean and chair of the Accounting, MIS, and Legal Studies department for the Dillard College of Business Administration at MSU Texas. He teaches financial accounting, governmental and nonprofit accounting, and auditing. He received a bachelor's degree in business (accounting major) from Midwestern State University, a master's degree from the University of North Texas, and a PhD from Texas Tech University.

Dr. Patton serves as a board member on the Federal Accounting Standards Advisory Board (FASAB), which establishes the financial reporting standards for the United States government. Dr. Patton began his accounting career in public accounting, where he audited local governments. Later, he served as a project manager and as the research manager for the GASB. He is a coauthor of the accounting textbook, Accounting for Governmental and Nonprofit Organizations, which is published by Cambridge Business Publishers. He coauthored a governmental accounting book for practitioners, Guide to Governmental Financial Reporting Model: Implementing GASBS No. 34, and another governmental accounting textbook published by Pearson Prentice Hall. He has published articles in the Accounting Review, Accounting Horizons, the Journal of Accounting and Public Policy, and the Journal of Public Budgeting, Accounting, and Financial Management, among others.

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