ACCY161Fa10_Notes02

ACCY161Fa10_Notes02 - ACCY 161 Fall 2010 Lecture #2...

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ACCY 161 – Fall 2010 Lecture #2 Introduction to Governmental Financial Reporting ACCY161Fa10_Notes02 Page 1 of 4 Class Comments The “GASB 34” Accounting and Reporting Model for SLG’s 1 Notes: 1. Before you get to far into this you should read, but not necessarily fully understand, the inside cover of the text – an explanation of dual tracking 2. The “reporting model” for most of you will be a new concept. But it actually one of the components of your Accountancy 111, 112, and 113 classes. It is probably more that the term is new to you, not the concept. 3. The accounting model above includes the various governmental entities that make up the reporting unit – discussed later – it is not a single entity 4. Now it makes some sense to get “our arms around this” reporting model/accounting model to give us an anchor to keep us from getting lost in the detail. For this purpose in our class we use the financial statements for the State of California and for the City and County of San Francisco. Lets go to the City and County of San Francisco’s (CCSF) financial statement. For now they are included in a separate file in the class web page next to these lecture notes. 1 SLG’s is jargon for state and local governments as opposed to the federal government. Economic Events ~ GAAP Administrative Events ~ Political A subset of “financial events” in terms of fund accounting Fund Financials Government- Wide Financials The Accounting Model for the Reporting Entity The Reporting Model for the Reporting Entity
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This note was uploaded on 10/25/2011 for the course ACCY 161 taught by Professor Staff during the Spring '08 term at CSU Sacramento.

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ACCY161Fa10_Notes02 - ACCY 161 Fall 2010 Lecture #2...

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