Ch a14 - Chapter 14 Financial Reporting by the Federal...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 14 – Financial Reporting by the Federal Government C HAPTER 14 Financial Reporting by the Federal Government 14-1. B ASIC FINANCIAL STATEMENTS OF A FEDERAL AGENCY INCLUDE : O B ALANCE S HEET , O S TATEMENT OF N ET C OST O S TATEMENT OF C HANGES IN N ET P OSITION O S TATEMENT OF B UDGETARY R ESOURCES O S TATEMENT OF C USTODIAL A CTIVITY ( IF APPLICABLE ), AND O S TATEMENT OF S OCIAL I NSURANCE ( IF APPLICABLE ). 14-2. B ASIC FINANCIAL STATEMENTS OF THE U . S . GOVERNMENT INCLUDE : O S TATEMENT OF N ET C OST , O S TATEMENT OF O PERATIONS AND C HANGES IN N ET P OSITION , O R ECONCILIATION OF N ET O PERATING C OST AND U NIFIED B UDGET D EFICIT , o S TATEMENT OF C HANGES IN C ASH B ALANCE FROM U NIFIED B UDGET AND O THER A CTIVITIES , O B ALANCE S HEET , AND O S TATEMENT OF S OCIAL I NSURANCE . 14-3. T HE F EDERAL A CCOUNTING S TANDARD A DVISORY B OARD ISSUES FEDERAL ACCOUNTING STANDARDS . T HE B OARD IS CONSIDERED ADVISORY SINCE THE STANDARDS MUST BE APPROVED BY THE THREE FOUNDING ORGANIZATIONS (T REASURY , O FFICE OF M ANAGEMENT AND B UDGET AND G ENERAL A CCOUNTABILITY O FFICE ). 14-1
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Chapter 14 – Financial Reporting by the Federal Government 14-4. F INANCIAL S TATEMENTS OF THE U.S. G OVERNMENT S TATEMENT OF N ET C OSTS 1. THE THREE LARGEST GOVERNMENT UNITS BASED ON NET COST ARE : O D EPARTMENT OF D EFENSE $ 740.8 BILLION O H EALTH UMAN S ERVICES $ 712.7 BILLION O S OCIAL S ECURITY A DMINISTRATION $ 663.6 BILLION 2. T HE GOVERNMENT
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 6

Ch a14 - Chapter 14 Financial Reporting by the Federal...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online