Governmental GAAP Guide (2025)

Author: Eric S. Berman
Publisher: CCH U.S.
ISBN: 9780808060277
Published In: August 2024
Format: Paperback , 920 pages
Jurisdiction: U.S. ? Disclaimer:
Countri(es) stated herein are used as reference only

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Description
Contents
Author

Details

Wolters Kluwer’s Governmental GAAP Guide keeps financial professionals who work with state and local governments current with emerging governmental standards. These financial professionals must stay current or face unfortunate consequences. The CCH Governmental GAAP Guide analyzes all of the accounting principles for financial reporting by state and local governments. These include:

GASB Statements
GASB Interpretations
GASB Technical Bulletins
Releases of the National Council on Governmental Accounting (NCGA) that remain in effect as of the date of publication, including Statements and NCGA Interpretations

The CCH Governmental GAAP Guide also covers certain AICPA Audit and Accounting Guide concepts. The author discusses and restates these standards in plain English and supports them with timesaving examples and illustrations. In one comprehensive volume, this impressive guide explains completely the financial accounting and reporting standards that are necessary in preparing the basic external financial statements of a governmental entity.

To facilitate research, the text cross-references major topics to the pertinent paragraphs of the original pronouncements. Throughout the text Observations clarify specific accounting principles.

A companion publication, Governmental GAAP Practice Manual, illustrates how governmental financial statements are prepared based on the standards established by GASB-34, Basic Financial Statements — and Management’s Discussion and Analysis — for State and Local Governments, and beyond.

The CCH Governmental GAAP Guide also discusses current projects of the GASB, including standard-setting, a multiple-year project reexamining the financial reporting model, and a related project reexamining revenue and expense recognition principles and note disclosure.

This book can be used in conjunction with the Governmental GAAP Update Service.

I. Basic Governmental Accounting Concepts and Standards

1 Foundation and Overview of Governmental Generally Accepted Accounting Principles
2 Budgetary Accounting and Reporting
3 Basis of Accounting and Measurement Focus
4 Governmental Financial Reporting Entity
5 Terminology and Classification

II. Fund Accounting

6 Governmental Funds
7 Proprietary Funds
8 Fiduciary Funds

III. Specific Accounting and Reporting Issues

9 Deposits, Investments, and Derivative Instruments
10 Capital Assets
11 Other Assets and Deferred Outflows of Resources
12 Long-Term Debt
13 Pension, Postemployment, and Other Employee Benefit Liabilities
14 Leases and Service Concession Arrangements
15 Risk Management, Claims, and Judgments
16 Other Liabilities
17 Revenues: Nonexchange and Exchange Transactions
18 Expenses/Expenditures: Nonexchange and Exchange Transactions
19 Special Assessments

IV. Financial Reporting by General-Purpose Governments

20 Comprehensive Annual Financial Report

V. Stand-Alone Financial Reporting by Special-Purpose Governments

21 Public Colleges and Universities
22 Pension and Other Postemployment Benefit Plans
23 Public Entity Risk Pools

Glossary
Accounting Resources on the Web
Cross-Reference
Index

Eric S. Berman, CPA, has over 20 years of governmental accounting and auditing experience and is a Quality Control Partner and Principal with Brown Armstrong Certified Public Accountants of Bakersfield, California. Eric manages the firm’s Pasadena, California, office. Prior to joining Brown Armstrong, he was a Deputy Comptroller for the Commonwealth of Massachusetts from 1999 to 2010, and the Chief Financial Officer of the Massachusetts Water Pollution Abatement Trust from 1994 to 1999.

Eric is a licensed CPA in Massachusetts and also holds practice privileges (with attest) in California. He obtained an M.S. in Accountancy from Bentley University. Eric represents the Association of Government Accountants (AGA) for the Government Accounting Standards Advisory Council to GASB and chairs the AGA’s Financial Management Standards Board. He also is the past chair of the American Institute of Certified Public Accountants (AICPA) Governmental Performance and Accountability Committee and was also a member of the AICPA’s State and Local Government Expert Panel. Eric is frequently called upon to consult and train state and local governments throughout the country on governmental accounting and auditing.