Table of Contents

Chapter 1 - Governmental Accounting: An Overview  Section 1. 1

Learning Objectives. 1

Characteristics of Nonbusiness Entities. 1

Differences between Governmental and Private Sector Accounting. 2

Background of Governmental Accounting. 3

Major Concepts of Governmental Accounting. 5

Chapter 1 - Section 1 Review Questions. 11

Chapter 1 - Governmental Accounting: An Overview  Section 2. 12

Financial Reporting of Governmental Entities. 12

Chapter 1  Section 2 Review Questions. 23

Chapter 1 - Governmental Accounting: An Overview  Section 3. 25

Budgetary Aspects of Governmental Operations. 25

Accounting for Expenditures. 27

Interfund Activities. 39

Overview of Accounting and Financial Reporting for the General Fund. 43

Comprehensive Illustration of Accounting for the General Fund. 44

Chapter Summary. 55

Chapter 1  Section 3 Review Questions. 57

Chapter 2 - Special Funds and Financial Reporting  Section 4. 59

Learning Objectives. 59

Governmental Funds Worksheets. 62

Special Revenue Funds. 62

Capital Projects Funds. 66

Debt Service Funds. 71

Chapter 2  Section 4 Review Questions. 77

Chapter 2 - Special Funds and Financial Reporting  Section 5. 78

Permanent Funds. 78

Governmental Funds Financial Statements. 79

Proprietary Funds. 83

Enterprise Funds. 83

Chapter 2  Section 5 Review Questions. 90

Chapter 2 - Special Funds and Financial Reporting  Section 6. 91

Internal Service Funds. 91

Fiduciary Funds. 97

Trust Funds. 98

Agency Funds. 101

The Government Reporting Model 103

Additional Considerations. 119

Chapter Summary. 129

Chapter 2  Section 6 Review Questions. 131

Review Question Answers. 133

Glossary. 154

Index. 172

Final Examination. 174