Governmental and Not-forProfit Accounting
Not-for-profit organizations characteristics
Receive contributions of significant amounts
of resources from resource providers who do
not expect equivalent pecuniary return
Operate for purpos
The Use of Funds in
What is Fund Accounting?
A method of segregating resources into
categories (i.e., funds), to identify both the
source of funds and the use of funds.
System of recording
Budgetary Consideration in
A budget is a formal estimate of the resources that an
organization plans to expend, for a given purpose or
over a given period, and the proposed means of
acquiring these reso
Objectives of Financial Reporting State and
Local Governments (SLGs)
Compare actual results with the budget.
Assist in determining compliance.
Assist in evaluating efficiency & effectiveness.
Assess financial condition and results of operations .