Ch 17: Government Accounting and Financial Reporting
About This Chapter
1. Government Accounting: Definition, Types & Importance
Government accounting follows slightly different policies and principles than private companies, emphasizing transparency and uniformity. Follow this through practices in fund accounting and financial reporting.
2. Government Financial Operations: Accounting & Reporting
In this lesson we will look at the requirements for government agencies in their accounting procedures, specifically accounting principles and oversight, fund accounting, and financial reporting.
3. Governmental Funds: Types & Uses
Governmental funds are monetary resources of the government that are used in financing government projects and expenditures. Explore groups of government funds and their uses, and discover the types of governmental, proprietary, and fiduciary funds.
4. Associating Accounts with Governmental Funds in Accounting
Governmental fund accounting is different from that of a corporation. Governments have more responsibility with the money they have and must distribute it to all projects and services. This lesson will cover fund designation, fund types, and accounting practices used by the government to track and account for the money.
5. Dealing with Government Funds in Accounting
This lesson will go over the various types of governmental funds, their purpose, and an example of their use. This is not a comprehensive list of government funds in accounting, but these are some of the main types of accounts used.
6. Fund-Based Financial Statements for Government Entities
Financial statements for government entities shows the funds the government has and what they are spending money on. This lesson will go over the various types of funds and how they are used.
7. Government-Wide Financial Statements for Government Entities
This lesson will go over the purpose of government-wide financial statements and its components. The two main statements are the financial statement and the statement of net position.
8. Statements of Activities & Functional Expense in Government Accounting
This lesson will focus on three main aspects of governmental accounting: Statement of Activities, Changes in Net Assets Statement, and the Statement of Functional Expense. How are these related and why would government would choose to show them?
9. Reconciling Government-Wide Financial Statements
This lesson will show the difference between government-wide and funds-based financial statements and how they are reconciled. We will also look at the balance sheet and the role that it plays in government funds reconciliation.
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Other chapters within the Accounting 302: Advanced Financial Accounting II course
- Business Ownership Types
- Key Accounting Concepts
- Accounting Equations & Formulas
- Journals & Ledgers in Accounting
- Financial Statements, Balance Sheets & Income Statements
- Analyzing Financial Statements
- Financial Statement Ratios
- Accounting for Inventory
- Accounting for Depreciation
- Accounting for Compensation, Taxes & Liabilities
- Adjustments & Closing Entries
- Corporate Accounting
- Departmentalized Accounting
- Taxation for Corporations
- Business & Financial Forecasting
- Accounting for Consolidations
- Options & Derivatives in Accounting
- Required Assignments for Accounting 302
- Studying for Accounting 302