PPT-Overview of Governmental Fund Accounting

Budget Accounting and Reporting Council May 29 2014 Columbia Basin College Stuart Trippel CPA CGMA Executive Director Business and Student Support Services Shoreline Community College. GOVERNMENTAL ACCOUNTING. Purposes and Sources. What is the organizational purpose of governments?. To promote the well-being of citizens. To provide public services. Note: No generation of returns to owners. CSFMO. Oakland, California. February 20, 2013. 1. Background. Common errors and misunderstanding most often are the result of “half truths”. 2. The “number of funds principle” means “the fewer funds the better”. Presented by. Leanne T. Cross, CPA. lcross@mjcpa.com. Governmental Acronyms. FASB – Financial Accounting Standards Board. GAAP – Generally Accepted Accounting Principles. GASB – Governmental Accounting Standards Board. Accounting for State &. Local Governments, I. Objectives of . Gov. .. Reporting. SGAC 1. Government financial reports should respond to needs of the citizenry, their representatives, and investors and creditors involved in the lending process. Alaska GFOA. Anchorage, Alaska. November 17, 2014. 1. Topics. Pension accounting changes. Government combinations. N. onexchange financial guarantees. Deferred outflows and inflows. Common misconceptions. Joseph J. Welch, CPA Partner. Purvis Gray & Company LLP. Sarasota, Florida. GASB #54, paragraph 55. ……. . Those users want to know about the character of residual amounts. They want to know the extent to which the use of amounts reported in governmental funds is constrained and how binding those constraints are. Are they enforceable by parties external to the government? Does the government itself have the ability through some specified level of due process to remove or modify the constraints? Or are they less-binding or even nonbinding constraints that are simply indications of management's intent to use resources for specific purposes, with management having the power to change their intentions through a less rigorous process? . ConstitutionStatutesHyperlink Nonspendable fund balance includes amounts that cannot be spent because they are either (a) not in spendable form or (b) legally or contractually required to be maintaine 59. th. Annual V.G. Young Institute School for . County Commissioners Courts. February 8-10, 2017. Donna . Thornton, CPA CIO. Objectives Part One. Discuss and Analyze the Differences . B. etween . G. Budgeting. Centre to provide for the budgets. Based on AWP. Timelines set which needs to be followed. Annual Action Plan key for budget and payments. Fund Flow. Bank accounts to be opened by states – Any Commercial Bank . Budgeting. Centre to provide for the budgets. Based on AWP. Timelines set which needs to be followed. Annual Action Plan key for budget and payments. Fund Flow. Bank accounts to be opened by states – Any Commercial Bank . 59. th. Annual V.G. Young Institute School for . County Commissioners Courts. February 8-10, 2017. Donna . Thornton, CPA CIO. Objectives Part One. Discuss and Analyze the Differences . B. etween . G. June 14. ,. 2011. Agenda. Review, Methodology & Examples of Fund Balance Classifications. Fund Balance Policies vs. Stabilization Policies. Restricted – Stabilization by State Statute. Review & Examples of Fund Type Classifications. The Benefits of Reading Books Definition and Governing Bodies. . GAAP PowerPoint #1. Generally Accepted Accounting Principles. Defined as the set of accepted industry rules, practices and guidelines for financial accounting . Includes the standards, conventions, and rules accountants follow in recording and summarizing transactions, and in the preparation of financial statements.