【導(dǎo)讀】a)Doubleentrysystem,journals,ledgers,trialbalances. government.Management’sDiscussion&Analysis(MD&A)–(RSI). Government-wideF/S. FundF/S. NotestotheF/S. Introductor

　　

【正文】 objectives d) Segregated physically according to various objectives Answer: c) 46 F. Notes to the financial statements 47 Notes to the financial statements F Notes disclosure requirement GASB Codification Sec 2300 GASB 34, 38, 40 Major disclosures: 48 ? Summary of accounting policies ? Description of the reporting entity ? Disclosure of cash and investments, fixed assets, long term debt, pension ? Commitments and contingencies ? Disclosure of individual funds with deficit fund balances ? Description of governmentwide statements ? Segment information for enterprise funds G. Required supplementary information (RSI) other than MD amp。 A 49 Required Supplementary Info (RSI) G 1. Required Supplementary Info other than MDamp。A a) Pension schedules ? Schedule of funding progress: provides actuarial info regarding pension plan assets and liab ? Schedule of employer contributions: pare amount contributed and how much should be contributed b) Schedule when the G sponsors a public entity risk pool ? A risk pool is a method used by one insurance pany to reduce their exposure to sudden and severe losses caused by largescale catastrophic events required when a G reports a defined benefit pension plan ? A public entity risk pool operates under the same general principle, except that they are made up of public entities, such as government agencies ? In that case, the government should provides revenue and claims development info 50 Required Supplementary Info (RSI) G 1. Required Supplementary Info other than MDamp。A c) Budgetary parison schedules ? For the general fund and major special revenues funds (GRDCP) only ? These schedules include ① The original budget, ② The final budget, and ③ The actual revenues and expenditures puted on the budgetary basis ? A variance column may or may not be used. ? Format ① May be that of the original budget document ② May use the same format as Statement of Revenues, Expenditures, and Changes in fund balances 51 Required Supplementary Info (RSI) G 1. Required Supplementary Info other than MDamp。A c) Budgetary parison schedules Revenues Property taxes Charges for services Investment earnings… Expenditures Current General government Public safety Culture and recreation Education… Other financing sources (uses) Proceeds from refunding bonds Transfers in (out) Special item Net change in fund balances Fund balances, BEG Fund balances, END Budgeted amounts Original Final Actual amount (budgetary basis) (Variance) with final budget 52 Required Supplementary Info (RSI) G 1. Required Supplementary Info other than MDamp。A d) Modified approach for reporting infrastructure ? Governments have the option of not depreciating their infrastructure assets if they adopt the “modified” approach for recording infrastructure. ? Requirements must be met to adopt modified approach ? Governments that use the modified approach would be required to expense all spending on infrastructure assets except for additions and improvements. ① Characteristics must be possessed by the government’s asset management system ? Keeping an uptodate inventory of infrastructure assets ? Performing condition assessments of eligible infrastructure ? Estimating the costs each year to preserve the infrastructure assets at the condition level established and disclosed by the government ② The government must document that the infrastructure assets have been preserved at the condition level prescribed by the government 53 Required Supplementary Info (RSI) G 1. Required Supplementary Info other than MDamp。A d) Modified approach for reporting infrastructure ? Required schedules ① A schedule reflecting the condition of the government’s infrastructure ② A parison of the needed and actual expenditures to maintain the government’s infrastructure Example: Assume a government had $1,000,000 in ordinary maintenance expenses, $2,000,000 in expenditures to extend the life of existing infrastructure, and $3,000,000 in expenditure to add or improve existing infrastructure. Depreciation (if recorded) amounted to $2,500,000. Answer: Depreciation approach Modified approach Expensed Capitalized $3,500 $3,000 $3,000 $3,000 Under both methods, only costs to add or improve existing infrastructure would be capitalized ($1,000 + $2,500) ($1,000 + $2,000) 54 Required Supplementary Info (RSI) G 2. Other Supplementary Info a) Combining statements for nonmajor funds b) Variance between originally adopted budget and final amended budget c) Variance between final amended budget and actual result Not required 55 H. Measurement focus and basis of accounting (MFBA) 56 MFBA H Measurement Focus and Basis of Accounting Economic resources MF and Accrual BA Current fin resources MF and Modified accrual BA Similar to accounting for business enterprises Unlike accounting for business enterprises Measure all of the available economic resources to the governmental entity Measure only the current financial resources available to the governmental entity Fixed assets are recorded and depreciated No Fixed assets are reported LT debts are subtracted to arrive assets No LT debts are reported Revenues are recognized when earned and expenses are recognized when incurred ① Revenues are recognized when measurable and available to finance expenditures of the current period (ex. property taxes available if collected within 60 days of the end of fiscal year) ② Expenditures (not EXP) is modified as follows: 57 MFBA H Measurement Focus and Basis of Accounting Economic resources MF and Accrual BA Current fin resources MF a