Governmental and Nonprofit Accounting

Robert J. Freeman / Craig D. Shoulders / Gregory S. Allison / G. Robert Smith  
Total pages
November 2013
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Governmental and Nonprofit Accounting
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For accounting students enrolled in a governmental and nonprofit accounting course. This is a comprehensive textbook that is written through the eyes of the learner to prepare them for professional government and not-for-profit accounting practice and the CPA exam.


&> For accounting students enrolled in a governmental and nonprofit accounting course.

This is a comprehensive textbook that is written through the eyes of the learner to prepare them for professional government and not-for-profit accounting practice and the CPA exam.

Through the Eyes of the Learner

This edition incorporates major, positive changes in the order and method of presentation after the authors examined the text “through the eyes of the learner.” To optimize understanding and connections:

  • Students must first master the governmental fund model required by GAAP before moving forward to understand reporting for more diverse governmental funds.

Up-To-Date Coverage

Comprehensive, up-to-date coverage of government and not-for-profit accounting and reporting is included in this text. It incorporates the most recently adopted professional literature, including GASB statements and other works.

Case Integration

Integration of the computerized Harvey City Case has been included throughout Chapters 4 to 15 to simulate the experience of accounting and reporting for a small city.


  • Correlation with professional practice, enhanced by using a practice-relevant, conversion worksheet approach to develop government-wide financial statement data.
  • Integration of practice examples and case problems developed from actual state and local governments financial reports in the end-of-chapter materials. Cases derived from reports of more than 40 governments including school districts such as New York City, Phoenix, and Milwaukee.

New to this Edition

NEW!Present material as seen through the eyes of the learner: Changes were made to this edition to allow students to master the content more efficiently. The material that was enhanced includes:

  • Chapter 10: Enterprise Funds was reorganized so students are introduced to Enterprise Fund concepts, entries, and financial statements in a simple context. Then, additional complexities, including the use of restricted asset accounting and refundings are added and a more advanced set of financial statements for Enterprise Funds is presented.
  • Chapter 14: Financial Reporting: Deriving Government-Wide Financial Statements and Required Reconciliations was streamlined. And the two-worksheet approach to deriving government-wide financial statements is now discussed in terms of converting the governmental funds financial statement equation to the corresponding government-wide financial statement equation. Then the approach is illustrated using this construct for explanation and without journal entries.
  • Chapter 16: Non-SLG Not-for-Profit Organizations highlights the accounting and reporting for restricted contributions, restricted investment income, and related net assets released from restrictions are now illustrated more simply to permit quicker and more complete comprehension.

NEW! Offer the latest information : GAAP and GAGAS driven changes. All four of the key new GASB Statements will be in effect by the time that students who use this text graduate. These statements contain guidance relevant to 13 of the 15 chapters on state and local government accounting as well as the chapters on health care accounting and college and university accounting. The statements are:

  • Statement 61, The Financial Reporting Entity: Omnibus, an amendment of GASB Statements No. 14 and No. 34, which makes the most significant changes in the criteria for determining a government’s reporting entity and in the criteria for blending component units since Statement 14 became effective in 1993.
  • Statement 62, Codification of Accounting and Financial Reporting Guidance Contained in Pre-November 30, 1989 FASB and AICPA Pronouncements.
  • Statement 63, Reporting Deferred Outflows of Resources, Deferred Inflows of Resources, and Net Position.
  • Statement 65, Reporting Items Previously Recognized as Assets and Liabilities.

Table of Contents

CHAPTER 1 Governmental and Nonprofit Accounting
Environment and Characteristics
CHAPTER 2 State and Local Government Accounting and Financial Reporting
Model: The Foundation
CHAPTER 3 The General Fund and Special Revenue Funds
CHAPTER 4 Budgeting, Budgetary Accounting, and Budgetary Reporting
CHAPTER 5 Revenue Accounting–Governmental Funds
CHAPTER 6 Expenditure Accounting–Governmental Funds
CHAPTER 7 Capital Projects Funds
CHAPTER 8 Debt Service Funds
CHAPTER 9 General Capital Assets; General Long-Term Liabilities; Permanent Funds
Introduction to Interfund-GCA-GLTL Accounting
CHAPTER 10 Enterprise Funds
CHAPTER 11 Internal Service Funds
CHAPTER 12 Trust and Agency (Fiduciary) Funds
Summary of Interfund-GCA-GLTL Accounting
CHAPTER 13 Financial Reporting
The Basic Financial Statements and Required Supplementary Information
CHAPTER 14 Financial Reporting
Deriving Government-Wide Financial Statements and Required Reconciliations
CHAPTER 15 Financial Reporting
The Comprehensive Annual Financial Report and the Financial Reporting Entity
CHAPTER 16 Non-SLG Not-for-Profit Organizations
CHAPTER 17 Accounting for Colleges and Universities
CHAPTER 18 Accounting for Health Care Organizations
CHAPTER 19 Federal Government Accounting
CHAPTER 20 Auditing Governments and Not-for-Profit Organizations