Government and Not-for-Profit Accounting Concepts and Practices Granof Khumawala 5th Edition Solutions Manual

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Product Details:

• ISBN-10 ‏ : ‎ 0470390786
• ISBN-13 ‏ : ‎ 978-0470390788
• Author: Granof; Khumawala

Known for its accessible writing style and concept-based presentation, this book arms accountants with critical information that accountants will be able to apply throughout their careers. New coauthor Saleha Khumawala brings a fresh voice to make the content even more engaging in the new edition. Emphasis is placed on real world applications to clearly demonstrate the relevance of the material. New chapters are included on health care organizations and colleges and universities. In addition, numerous new examples are integrated throughout the chapters with new CAFR references to give accountants a stronger grasp of the concepts.

Table Of Contents:

1 The Government and Not- for- Profit Environment 1

How Do Governments and Not- For- Profits Compare With Businesses? 2

In Practice: Why Is State And Local Government Accounting Important? 6

What Other Characteristics of Governments and Not- For- Profits Have Accounting Implications? 9

How Do Governments Compare With Not-For- Profits? 12

What Are The Overall Purposes of Financial Reporting? 14

Who are The Users, and What are The Uses of Financial Reports? 14

What are The Specific Objectives of Financial Reporting As Set Forth By The GASB and The FASB? 17

Example: Clash Among Reporting Objectives 19

Do Differences In Accounting Principles Really Matter? 22

In Practice: Will Accounting Changes Make A Difference? 24

Who Establishes Generally Accepted Accounting Principles? 24

In Practice: Assessing the Profitability of An Athletic Program 25

In Practice: Governments and Not- For- Profits May Also Be Aggressive In Their Accounting 26

Summary 29

Key Terms In This Chapter 30

Questions For Review and Discussion 30

Exercises 31

Continuing Problem 33

Problems 33

Questions For Research, Analysis, And Discussion 37

2 Fund Accounting 38

What is a Fund? 39

What are the Key Elements of Government Financial Statements? 39

What Characterizes Funds? 41

Use of Multiple Funds to Account for An Entity 44

Basis of Accounting and Measurement Focus 45

Example: Fund Accounting in a School District 46

Major VS. Nonmajor Funds 49

How Can Funds be Combined and Consolidated? 49

What are the Main Types of a Government’s Funds? 59

What’s Notable About Each Type of Governmental Fund? 61

What’s Notable About Each Type of Proprietary Fund? 64

What’s Notable About Each Type of Fiduciary Fund? 70

What is Included in a Government’s Annual Comprehensive Financial Report (ACFR)? 71

Example: Government-Wide Statement of Activities 74

How Do the Funds and Annual Reports of Not-For-Profits Differ From Those of Governments? 75

Summary 78

Key Terms In This Chapter 80

Exercise for Review and Self-Study 80

Questions for Review and Discussion 81

Exercises 82

Continuing Problem 85

Problems 86

Questions for Research, Analysis, and Discussion 91

Solution to Exercise for Review and Self-Study 92

3 Issues of Budgeting and Control 95

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Government and Not-for-Profit Accounting Concepts and Practices Granof Khumawala 5th Solutions Manual
Government and Not-for-Profit Accounting Concepts and Practices Granof Khumawala 5th Edition Solutions Manual