CHAPTER 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
Effective Date
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
Reporting organizations other than component units
Summary
INTRODUCTION
One of the challenges facing the preparer of financial statements for a governmental entity is to determine what entities should be included in the reporting entity of the government. Governments typically have related governmental entities and not-for-profit organizations that are so closely related to the government that their financial position and results of operations should be included with those ...
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