Ch03 state and local governments overview and CAFR

Slide 1

Learning Objectives

Learning Objectives [cont’d]

Nature of Governments

Slide 5

Government GAAP

Financial Report Enables User to:

Users Abilities (cont’d)

Characteristics of Government Entities

Characteristics of Government Entities [cont’d]

Who uses Government Financial Statement

Financial Reporting Objectives

Financial Reporting Entity

Methods for Including Components in Financial Information

Governmental Financial Plan

Governmental Financial Budgets

Governmental Budgets

Financial Reporting Uses

Financial Reporting Uses [cont’d]

Revenue Recognition

Derived Tax Revenues

Imposed Nonexchange Revenues

Government-mandated Nonexchange Revenues

Voluntary Nonexchange Revenues

Eligibility Recognition Requirements

Expense Recognition

Expense Recognition (cont’d)

Slide 28

Slide 29

Governmental Financial Report Users

State and Local Government Financial Statements

State and Local Government Financial Statements [cont’d]

Slide 33

Governmental Financial Groups

Government Reporting Matrix

Proprietary Group Reporting Matrix

Fiduciary Group Reporting Matrix

Financial Report Components

Management Discussion and Analysis (MD&A)

Management Discussion and Analysis (MD&A) cont’d

Slide 41

Slide 42

Government-Wide Financial Statements

Government-Wide Financial Statements [cont’d]

Statement of Net Assets

Statement of Activities

Slide 47