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Government and Not For Profit Accounting: Concepts and Practices, 6th Edition

Book Description

By emphasizing concepts, rather than rules and procedures, Granof's Government and Not-for-Profit Accounting, 6th Edition ensures that students will gain insight into how and why the issues may have been resolved either similarly or differently in the business sector. Unlike other government and NFP accounting texts, this book is directed for both potential users and preparers of financial reports. Government and Non-Profit Accounting helps make students aware of the dynamism of government and not-for-profit accounting and of the intellectual challenges that it presents. Emphasizing real world applications and an "issue-oriented" approach, the text explains concepts concisely and connects them with real world examples and is conceptual, yet provides complete coverage of all topics likely to appear on the CPA exam.

Table of Contents

  1. Cover Page
  2. Title Page
  3. Copyright
  4. Dedication
  5. PREFACE
    1. OTHER SPECIAL FEATURES
    2. COMPUTERIZED ACCOUNTING PRACTICE SETS—KEY FEATURE OF THIS EDITION
    3. OTHER ACKNOWLEDGMENTS
  6. Contents
  7. CHAPTER 1: The Government and Not-for-Profit Environment
    1. HOW DO GOVERNMENTS AND NOT-FOR-PROFITS COMPARE WITH BUSINESSES?
    2. WHAT OTHER CHARACTERISTICS OF GOVERNMENTS AND NOT-FOR-PROFITS HAVE ACCOUNTING IMPLICATIONS?
    3. WHAT ARE THE OVERALL PURPOSES OF FINANCIAL REPORTING?
    4. WHO ARE THE USERS AND WHAT ARE THE USES OF FINANCIAL REPORTS?
    5. WHAT ARE THE SPECIFIC OBJECTIVES OF FINANCIAL REPORTING AS SET FORTH BY THE GASB AND FASB?
    6. DO DIFFERENCES IN ACCOUNTING PRINCIPLES REALLY MATTER?
    7. WHO ESTABLISHES GENERALLY ACCEPTED ACCOUNTING PRINCIPLES?
    8. SUMMARY
    9. KEY TERMS IN THIS CHAPTER
    10. QUESTIONS FOR REVIEW AND DISCUSSION
    11. EXERCISES
    12. CONTINUING PROBLEM
    13. PROBLEMS
    14. QUESTIONS FOR RESEARCH, ANALYSIS, AND DISCUSSION
  8. CHAPTER 2: Fund Accounting
    1. WHAT IS A FUND?
    2. WHAT ARE THE KEY ELEMENTS OF GOVERNMENT FINANCIAL STATEMENTS?
    3. WHAT CHARACTERIZES FUNDS?
    4. HOW CAN FUNDS BE COMBINED AND CONSOLIDATED?
    5. WHAT ARE THE MAIN TYPES OF A GOVERNMENT'S FUNDS?
    6. WHAT'S NOTABLE ABOUT EACH TYPE OF GOVERNMENTAL FUND?
    7. WHAT'S NOTABLE ABOUT EACH TYPE OF PROPRIETARY FUND?
    8. WHAT'S NOTABLE ABOUT EACH TYPE OF FIDUCIARY FUND?
    9. WHAT IS INCLUDED IN A GOVERNMENT'S COMPREHENSIVE ANNUAL FINANCIAL REPORT (CAFR)?
    10. HOW DO THE FUNDS AND ANNUAL REPORTS OF NOT-FOR-PROFITS DIFFER FROM THOSE OF GOVERNMENTS?
    11. SUMMARY
    12. KEY TERMS IN THIS CHAPTER
    13. EXERCISE FOR REVIEW AND SELF-STUDY
    14. QUESTIONS FOR REVIEW AND DISCUSSION
    15. EXERCISES
    16. CONTINUING PROBLEM
    17. PROBLEMS
    18. QUESTIONS FOR RESEARCH, ANALYSIS, AND DISCUSSION
    19. SOLUTION TO EXERCISE FOR REVIEW AND SELF-STUDY
  9. CHAPTER 3: Issues of Budgeting and Control
    1. WHAT ARE THE KEY PURPOSES OF BUDGETS?
    2. WHY IS MORE THAN ONE TYPE OF BUDGET NECESSARY?
    3. HOW ARE EXPENDITURES AND REVENUES CLASSIFIED?
    4. WHY ARE PERFORMANCE BUDGETS NECESSARY?
    5. WHAT ARE THE KEY PHASES FOR THE BUDGET CYCLE?
    6. ON WHAT BASIS OF ACCOUNTING ARE BUDGETS PREPARED?
    7. WHAT CAUTIONS MUST BE TAKEN IN BUDGET-TO-ACTUAL COMPARISONS?
    8. HOW DOES BUDGETING IN NOT-FOR-PROFIT ORGANIZATIONS COMPARE WITH THAT IN GOVERNMENTS?
    9. HOW DO BUDGETS ENHANCE CONTROL?
    10. WHAT ARE THE DISTINCTIVE WAYS GOVERNMENTS RECORD THEIR BUDGETS?
    11. HOW DOES ENCUMBRANCE ACCOUNTING PREVENT OVERSPENDING?
    12. ARE BUDGETARY AND ENCUMBRANCE ENTRIES REALLY NEEDED?
    13. SUMMARY
    14. KEY TERMS IN THIS CHAPTER
    15. EXERCISE FOR REVIEW AND SELF-STUDY
    16. QUESTIONS FOR REVIEW AND DISCUSSION
    17. EXERCISES
    18. CONTINUING PROBLEM
    19. PROBLEMS
    20. QUESTIONS FOR RESEARCH, ANALYSIS, AND DISCUSSION
    21. SOLUTION TO EXERCISE FOR REVIEW AND SELF-STUDY
  10. CHAPTER 4: Recognizing Revenues in Governmental Funds
    1. WHY AND HOW DO GOVERNMENTS USE THE MODIFIED ACCRUAL BASIS?
    2. WHAT ARE THE MAIN TYPES OF NONEXCHANGE REVENUES AND THE LIMITATIONS ON HOW AND WHEN THEY CAN BE USED?
    3. HOW SHOULD PROPERTY TAXES AND OTHER IMPOSED NONEXCHANGE REVENUES BE ACCOUNTED FOR?
    4. HOW SHOULD SALES TAXES AND OTHER DERIVED TAX REVENUES BE ACCOUNTED FOR?
    5. HOW SHOULD GRANTS AND SIMILAR GOVERNMENT-MANDATED AND VOLUNTARY NONEXCHANGE REVENUES BE ACCOUNTED FOR?
    6. HOW SHOULD SALES OF CAPITAL ASSETS BE ACCOUNTED FOR?
    7. HOW SHOULD INVESTMENT GAINS AND LOSSES BE ACCOUNTED FOR?
    8. HOW SHOULD INTEREST AND DIVIDENDS BE ACCOUNTED FOR?
    9. HOW SHOULD LICENSES, PERMITS, AND OTHER EXCHANGE TRANSACTIONS BE ACCOUNTED FOR?
    10. HOW SHOULD GOVERNMENTS REPORT REVENUES IN THEIR GOVERNMENT-WIDE STATEMENTS?
    11. SUMMARY
    12. KEY TERMS IN THIS CHAPTER
    13. EXERCISE FOR REVIEW AND SELF-STUDY
    14. QUESTIONS FOR REVIEW AND DISCUSSION
    15. EXERCISES
    16. CONTINUING PROBLEM
    17. PROBLEMS
    18. QUESTIONS FOR RESEARCH, ANALYSIS, AND DISCUSSION
    19. SOLUTION TO EXERCISE FOR REVIEW AND SELF-STUDY
  11. CHAPTER 5: Recognizing Expenditures in Governmental Funds
    1. HOW IS THE ACCRUAL CONCEPT MODIFIED FOR EXPENDITURES?
    2. HOW SHOULD WAGES AND SALARIES BE ACCOUNTED FOR?
    3. HOW SHOULD COMPENSATED ABSENCES BE ACCOUNTED FOR?
    4. HOW SHOULD PENSIONS AND OTHER POST-EMPLOYMENT BENEFITS BE ACCOUNTED FOR?
    5. HOW SHOULD CLAIMS AND JUDGMENTS BE ACCOUNTED FOR?
    6. HOW SHOULD THE ACQUISITION AND USE OF MATERIALS AND SUPPLIES BE ACCOUNTED FOR?
    7. HOW SHOULD PREPAYMENTS BE ACCOUNTED FOR?
    8. HOW SHOULD CAPITAL ASSETS BE ACCOUNTED FOR?
    9. HOW SHOULD INTEREST AND PRINCIPAL ON LONG-TERM DEBT BE ACCOUNTED FOR?
    10. HOW SHOULD NONEXCHANGE EXPENDITURES BE ACCOUNTED FOR?
    11. HOW SHOULD INTERFUND TRANSACTIONS BE ACCOUNTED FOR?
    12. WHAT CONSTITUTES OTHER FINANCING SOURCES AND USES?
    13. HOW SHOULD REVENUES, EXPENDITURES, AND OTHER FINANCING SOURCES AND USES BE REPORTED?
    14. WHAT IS THE SIGNIFICANCE OF THE CURRENT FINANCIAL GOVERNMENTAL FUND STATEMENTS? AN OVERVIEW
    15. SUMMARY
    16. KEY TERMS IN THIS CHAPTER
    17. EXERCISE FOR REVIEW AND SELF-STUDY
    18. QUESTIONS FOR REVIEW AND DISCUSSION
    19. EXERCISES
    20. CONTINUING PROBLEM
    21. PROBLEMS
    22. QUESTIONS FOR RESEARCH, ANALYSIS, AND DISCUSSION
    23. SOLUTION TO EXERCISE FOR REVIEW AND SELF-STUDY
  12. CHAPTER 6: Accounting for Capital Projects and Debt Service
    1. HOW DO GOVERNMENTS ACCOUNT FOR CAPITAL PROJECTS FUNDS?
    2. HOW DO GOVERNMENTS ACCOUNT FOR RESOURCES DEDICATED TO DEBT SERVICE?
    3. HOW DO GOVERNMENTS HANDLE SPECIAL ASSESSMENTS?
    4. ACCOUNTING FOR SPECIAL ASSESSMENTS IN PROPRIETARY FUNDS
    5. HOW CAN GOVERNMENTS BENEFIT FROM DEBT REFUNDINGS?
    6. SUMMARY
    7. KEY TERMS IN THIS CHAPTER
    8. EXERCISE FOR REVIEW AND SELF-STUDY
    9. QUESTIONS FOR REVIEW AND DISCUSSION
    10. EXERCISES
    11. CONTINUING PROBLEM
    12. PROBLEMS
    13. QUESTIONS FOR RESEARCH, ANALYSIS, AND DISCUSSION
    14. SOLUTION TO EXERCISE FOR REVIEW AND SELF-STUDY
  13. CHAPTER 7: Capital Assets and Investments in Marketable Securities
    1. WHAT ACCOUNTING PRACTICES DO GOVERNMENTS FOLLOW FOR GENERAL CAPITAL ASSETS?
    2. WHY AND HOW SHOULD GOVERNMENTS REPORT INFRASTRUCTURE?
    3. HOW SHOULD GOVERNMENTS ACCOUNT FOR ASSETS THAT ARE IMPAIRED?
    4. WHAT ISSUES ARE CRITICAL AS TO INVESTMENTS IN MARKETABLE SECURITIES AND OTHER FINANCIAL INSTRUMENTS?
    5. SUMMARY
    6. KEY TERMS IN THIS CHAPTER
    7. EXERCISE FOR REVIEW AND SELF-STUDY
    8. QUESTIONS FOR REVIEW AND DISCUSSION
    9. EXERCISES
    10. CONTINUING PROBLEM
    11. PROBLEMS
    12. QUESTIONS FOR RESEARCH, ANALYSIS, AND DISCUSSION
    13. SOLUTION TO EXERCISE FOR REVIEW AND SELF-STUDY
  14. CHAPTER 8: Long-Term Obligations
    1. WHY IS INFORMATION ON LONG-TERM DEBT IMPORTANT TO STATEMENT USERS?
    2. CAN GOVERNMENTS AND NOT-FOR-PROFITS GO BANKRUPT?
    3. HOW DO GOVERNMENTS ACCOUNT FOR LONG-TERM OBLIGATIONS?
    4. WHAT CONSTITUTES A GOVERNMENT'S LONG-TERM DEBT?
    5. WHAT OTHER INFORMATION DO USERS WANT TO KNOW ABOUT OUTSTANDING DEBT?
    6. WHAT ARE BOND RATINGS AND WHY ARE THEY IMPORTANT?
    7. SUMMARY
    8. KEY TERMS IN THIS CHAPTER
    9. EXERCISE FOR REVIEW AND SELF-STUDY
    10. QUESTIONS FOR REVIEW AND DISCUSSION
    11. EXERCISES
    12. CONTINUING PROBLEM
    13. PROBLEMS
    14. QUESTIONS FOR RESEARCH, ANALYSIS, AND DISCUSSION
    15. SOLUTION TO EXERCISE FOR REVIEW AND SELF-STUDY
  15. CHAPTER 9: Business-Type Activities
    1. WHAT TYPES OF FUNDS INVOLVE BUSINESS-TYPE ACTIVITIES?
    2. WHY DO GOVERNMENTS AND NOT-FOR-PROFITS ENGAGE IN BUSINESS-TYPE ACTIVITIES?
    3. SHOULD BUSINESS-TYPE ACTIVITIES BE ACCOUNTED FOR DIFFERENTLY THAN GOVERNMENTAL ACTIVITIES?
    4. WHAT ARE THE THREE BASIC STATEMENTS OF PROPRIETARY FUND ACCOUNTING?
    5. WHAT ACCOUNTING ISSUES ARE UNIQUE TO ENTERPRISE FUNDS OF GOVERNMENTS?
    6. WHAT ARE INTERNAL SERVICE FUNDS AND HOW ARE THEY ACCOUNTED FOR?
    7. WHAT SPECIAL PROBLEMS ARE CREATED WHEN AN INTERNAL SERVICE FUND OR THE GENERAL FUND ACCOUNTS FOR “SELF-INSURANCE”?
    8. HOW ARE PROPRIETARY FUNDS REPORTED?
    9. WHAT DO USERS WANT TO KNOW ABOUT REVENUE DEBT?
    10. SUMMARY
    11. KEY TERMS IN THIS CHAPTER
    12. EXERCISE FOR REVIEW AND SELF-STUDY
    13. QUESTIONS FOR REVIEW AND DISCUSSION
    14. EXERCISES
    15. CONTINUING PROBLEM
    16. PROBLEMS
    17. QUESTIONS FOR RESEARCH, ANALYSIS, AND DISCUSSION
    18. SOLUTION TO EXERCISE FOR REVIEW AND SELF-STUDY
  16. CHAPTER 10: Fiduciary Funds and Permanent Funds
    1. WHAT IS AN ENDOWMENT?
    2. WHAT ARE PERMANENT FUNDS AND HOW ARE THEY DISTINGUISHED FROM FIDUCIARY FUNDS?
    3. SHOULD INVESTMENT INCOME BE REPORTED IN AN EXPENDABLE OR A NONEXPENDABLE FUND?
    4. WHY SHOULD ALL NONEXPENDABLE FUNDS BE ACCOUNTED FOR ON A FULL ACCRUAL BASIS—AND WHY AREN'T THEY?
    5. SHOULD INVESTMENT GAINS BE CONSIDERED NET ADDITIONS TO PRINCIPAL OR EXPENDABLE INCOME?
    6. HOW CAN INSTITUTIONS PROTECT AGAINST INFLATION, YET REAP THE BENEFITS OF CURRENT INCOME?
    7. HOW ARE THE MAIN TYPES OF TRANSACTIONS RECORDED IN NONEXPENDABLE TRUST FUNDS?
    8. WHY IS PENSION ACCOUNTING SO IMPORTANT?
    9. HOW DOES A DEFINED CONTRIBUTION PLAN DIFFER FROM A DEFINED BENEFIT PLAN?
    10. WHAT IS THE DISTINCTION BETWEEN AN AGENT MULTIPLE EMPLOYER PLAN AND A COST-SHARING PLAN?
    11. WHAT IS THE RELATIONSHIP BETWEEN AN EMPLOYER AND ITS PENSION TRUST FUND?
    12. HOW SHOULD THE PENSION PLAN BE ACCOUNTED FOR?
    13. LIMITATIONS OF PENSION ACCOUNTING AND REPORTING AS CURRENTLY REQUIRED
    14. HOW SHOULD POSTEMPLOYMENT BENEFITS OTHER THAN PENSIONS (OPEB) BE ACCOUNTED FOR?
    15. WHAT ACCOUNTING ISSUES DO AGENCY FUNDS PRESENT?
    16. WHAT ACCOUNTING ISSUES DO INVESTMENT TRUST FUNDS PRESENT?
    17. SUMMARY
    18. KEY TERMS IN THIS CHAPTER
    19. EXERCISE FOR REVIEW AND SELF-STUDY
    20. QUESTIONS FOR REVIEW AND DISCUSSION
    21. EXERCISES
    22. CONTINUING PROBLEM
    23. PROBLEMS
    24. QUESTIONS FOR RESEARCH, ANALYSIS, AND DISCUSSION
    25. SOLUTION TO EXERCISE FOR REVIEW AND SELF-STUDY
  17. CHAPTER 11: Issues of Reporting, Disclosure, and Financial Analysis
    1. HOW CAN A GOVERNMENT PREPARE GOVERNMENT-WIDE STATEMENTS FROM FUND STATEMENTS?
    2. WHY IS THE REPORTING ENTITY AN ISSUE FOR GOVERNMENTS?
    3. WHAT CRITERIA HAVE BEEN ESTABLISHED FOR GOVERNMENT REPORTING ENTITIES?
    4. WHAT OTHER ELEMENTS MAKE UP THE COMPREHENSIVE ANNUAL FINANCIAL REPORT?
    5. WHAT ARE THE REPORTING REQUIREMENTS FOR SPECIAL-PURPOSE GOVERNMENTS?
    6. HOW CAN A GOVERNMENT'S FISCAL CONDITION BE ASSESSED?
    7. DRAWING CONCLUSIONS
    8. SUMMARY
    9. KEY TERMS IN THIS CHAPTER
    10. EXERCISE FOR REVIEW AND SELF-STUDY
    11. QUESTIONS FOR REVIEW AND DISCUSSION
    12. EXERCISES
    13. CONTINUING PROBLEM
    14. PROBLEMS
    15. QUESTIONS FOR RESEARCH, ANALYSIS, AND DISCUSSION
    16. SOLUTION TO EXERCISE FOR REVIEW AND SELF-STUDY
  18. CHAPTER 12: Not-for-Profit Organizations
    1. WHO'S IN CHARGE?
    2. WHAT SHOULD BE THE FORM AND CONTENT OF FINANCIAL STATEMENTS?
    3. WHAT ARE THE MAIN TYPES OF CONTRIBUTIONS, AND HOW SHOULD PLEDGES BE ACCOUNTED FOR?
    4. WHEN SHOULD USE-RESTRICTED (PURPOSE-RESTRICTED) CONTRIBUTIONS BE RECOGNIZED?
    5. SHOULD CONTRIBUTIONS OF SERVICES BE RECOGNIZED?
    6. SHOULD RECEIPTS OF COLLECTION ITEMS BE RECOGNIZED AS REVENUES?
    7. WHEN SHOULD CONDITIONAL PROMISES BE RECOGNIZED?
    8. HOW SHOULD “PASS-THROUGH” CONTRIBUTIONS BE ACCOUNTED FOR?
    9. WHEN SHOULD GAINS AND LOSSES ON INVESTMENTS BE RECOGNIZED?
    10. WHAT ARE SPLIT INTEREST AGREEMENTS AND HOW SHOULD THEY BE ACCOUNTED FOR?
    11. HOW SHOULD DEPRECIATION BE REPORTED?
    12. WHAT ISSUES DOES A NOT-FOR-PROFIT FACE IN ESTABLISHING ITS REPORTING ENTITY?
    13. HOW SHOULD THE COSTS OF FUND-RAISING ACTIVITIES BE DETERMINED?
    14. HOW CAN A NOT-FOR-PROFIT'S FISCAL CONDITION BE ASSESSED?
    15. TRADITIONAL FINANCIAL INDICATORS
    16. SUMMARY
    17. KEY TERMS IN THIS CHAPTER
    18. EXERCISE FOR REVIEW AND SELF-STUDY
    19. QUESTIONS FOR REVIEW AND DISCUSSION
    20. EXERCISES
    21. PROBLEMS
    22. SOLUTION TO EXERCISE FOR REVIEW AND SELF-STUDY
  19. CHAPTER 13: Colleges and Universities
    1. WHAT UNIQUE ISSUES DO COLLEGES AND UNIVERSITIES FACE?
    2. ACCOUNTING FOR REVENUES
    3. OTHER ISSUES
    4. EVALUATING THE FISCAL WHEREWITHAL OF COLLEGES AND UNIVERSITIES
    5. SUMMARY
    6. KEY TERMS IN THIS CHAPTER
    7. EXERCISE FOR REVIEW AND SELF-STUDY
    8. QUESTIONS FOR REVIEW AND DISCUSSION
    9. EXERCISES
    10. PROBLEMS
    11. SOLUTION TO EXERCISE FOR REVIEW AND SELF-STUDY
  20. CHAPTER 14: Health Care Providers
    1. WHAT UNIQUE ISSUES DO HEALTH CARE PROVIDERS FACE?
    2. WHAT ARE THE KEY DIFFERENCES BETWEEN NOT-FOR-PROFIT AND GOVERNMENT HEALTH CARE PROVIDERS?
    3. WHAT ARE THE BASIC FINANCIAL STATEMENTS?
    4. HOW ARE KEY REVENUES AND EXPENSES RECOGNIZED?
    5. HOW CAN THE FISCAL WHEREWITHAL OF HEALTH CARE ORGANIZATIONS BE EVALUATED?
    6. IMPACT OF THE AFFORDABLE HEALTH CARE ACT
    7. SUMMARY
    8. KEY TERMS IN THIS CHAPTER
    9. EXERCISE FOR REVIEW AND SELF-STUDY
    10. QUESTIONS FOR REVIEW AND DISCUSSION
    11. EXERCISES
    12. PROBLEMS
    13. SOLUTION TO EXERCISE FOR REVIEW AND SELF-STUDY
  21. CHAPTER 15: Managing for Results
    1. WHAT ROLE DO ACCOUNTANTS PLAY IN THE MANAGEMENT CYCLE OF GOVERNMENTS AND OTHER NOT-FOR-PROFITS?
    2. HOW CAN THE LIMITS OF TRADITIONAL BUDGETS BE OVERCOME?
    3. WHAT ARE THE CHARACTERISTICS OF SOUND OPERATIONAL OBJECTIVES?
    4. WHAT ARE THE PERILS OF ESTABLISHING OPERATIONAL OBJECTIVES?
    5. HOW DO PROGRAM BUDGETS RELATE EXPENDITURES TO OPERATIONAL OBJECTIVES?
    6. HOW SHOULD SERVICE EFFORTS AND ACCOMPLISHMENTS BE REPORTED?
    7. HOW ARE CAPITAL EXPENDITURES PLANNED AND BUDGETED WITHIN A FRAMEWORK OF OPERATIONAL OBJECTIVES?
    8. SUMMARY
    9. KEY TERMS IN THIS CHAPTER
    10. EXERCISE FOR REVIEW AND SELF-STUDY
    11. QUESTIONS FOR REVIEW AND DISCUSSION
    12. EXERCISES
    13. PROBLEMS
    14. SOLUTION TO EXERCISE FOR REVIEW AND SELF-STUDY
  22. CHAPTER 16: Auditing Governments and Not-for-Profit Organizations
    1. HOW DO AUDITS OF GOVERNMENTS AND NOT-FOR-PROFITS DIFFER FROM THOSE OF BUSINESSES?
    2. HOW HAS THE YELLOW BOOK INFLUENCED GOVERNMENTAL AND NOT-FOR-PROFIT AUDITING?
    3. WHAT TYPES OF AUDITS DO GOVERNMENTS CONDUCT?
    4. WHAT LEVELS OF STANDARDS ARE APPLICABLE TO ALL ENGAGEMENTS?
    5. WHAT ARE THE KEY DIFFERENCES BETWEEN GOVERNMENT AND NONGOVERNMENT FINANCIAL AUDIT STANDARDS?
    6. HOW HAVE THE SINGLE-AUDIT ACT AND OTHER PRONOUNCEMENTS INFLUENCED AUDITING?
    7. WHAT APPROACH DO AUDITORS TAKE IN PERFORMING SINGLE AUDITS?
    8. WHAT REPORTS RESULT FROM SINGLE AUDITS?
    9. WHAT ARE PERFORMANCE AUDITS?
    10. SUMMARY
    11. KEY TERMS IN THIS CHAPTER
    12. EXERCISE FOR REVIEW AND SELF-STUDY
    13. QUESTIONS FOR REVIEW AND DISCUSSION
    14. EXERCISES
    15. PROBLEMS
    16. CASES IN ETHICS
    17. SOLUTION TO EXERCISE FOR REVIEW AND SELF-STUDY
  23. CHAPTER 17: Federal Government Accounting
    1. WHICH AGENCIES ARE RESPONSIBLE FOR FEDERAL ACCOUNTING AND REPORTING?
    2. WHAT CONSTITUTES THE FEDERAL BUDGET?
    3. WHAT CONSTITUTES THE FEDERAL GOVERNMENT FOR PURPOSES OF REPORTING
    4. WHAT ARE THE FORM AND CONTENT OF GOVERNMENT-WIDE FEDERAL STATEMENTS?
    5. WHAT TYPES OF ACCOUNTS ARE MAINTAINED BY FEDERAL ENTITIES?
    6. WHAT STATEMENTS ARE REQUIRED OF FEDERAL AGENCIES?
    7. WHAT ARE OTHER KEY FEATURES OF THE FASAB MODEL?
    8. WHAT ADDITIONAL STEPS HAS THE FEDERAL GOVERNMENT TAKEN TO IMPROVE ITS FISCAL MANAGEMENT?
    9. WHAT ARE THE KEY INTERNATIONAL TRENDS IN GOVERNMENTAL ACCOUNTING?
    10. SUMMARY
    11. KEY TERMS IN THIS CHAPTER
    12. EXERCISE FOR REVIEW AND SELF-STUDY
    13. QUESTIONS FOR REVIEW AND DISCUSSION
    14. EXERCISES
    15. PROBLEMS
    16. SOLUTION TO EXERCISE FOR REVIEW AND SELF-STUDY
  24. GLOSSARY
  25. VALUE TABLES
  26. INDEX