Governmental and Nonprofit Accounting

by Robert J. Freeman, Craig D. Shoulders

Governmental and Nonprofit Accounting, Revised Sixth Edition provides a better balance between theory and practice than other texts, with the most up-to-date coverage. It provides readers with a thorough basis for understanding the logic for and nature of all of the funds and account groups of a government, with a unique approach that enables readers to grasp the entire accounting and reporting framework for a government before focusing on specific individual fund types and account groups. Includes coverage of the new reporting model GASB Statement 34 . Includes illustrations of government-wide financial statements and fund-based financial statements presented using the major fund approach. Points out the major changes required from the current guidance and explains and illustrates the requirements of the new model. Explains and illustrates the GASB Statement 31. Contains the latest revision of OMB Circular A-133 on single audits. Appropriate for undergraduate Accounting courses, such as Governmental Accounting, Public Sector accounting, Government and Nonprofit Accounting, and Fund Accounting.

Genres: Textbooks, Reference

888 pages, Hardcover

First published December 12, 1991

Reviews

[Jennifer Tse · Rating 1 out of 5]

One of the hardest textbook I have ever read. Don't know if part of it is because I had to study and work at the same time, but this book is pretty boring. It's useful and has good information, but the text is all black and white. No pictures except financial reports. I also got stuck with the most boring professor I have ever had. All he did was read from the Powerpoint that was included from the textbook's company. Ahhh, I'm so happy I'm done with this book. Every chapter took me about 2 hours to read, cause it's about 30 pages per chapter. Probably I only understood half of the materials though, cause part of the time it was so hard concentrating and keeping my eyes open... The only chapter I liked was Chap 16 Non-SLG (state local government) not-for-profit organizations.

My favorite quote is not related to accounting, haha, but is in the front page before the actual content.
"Dedicated in Loving Honor of Our Wives Beverly Freeman, Nancy Shoulders, Susan Allison, Susan Patton, and Betsy Smith. Who embody for us the declaration of the Holy Scriptures about a Virtuous Wife. For her worth is far above rubies. The heart of her husband safely trusts in her; so he will have no lack of gain. She does him good and not evil all the days of her life... Proverbs 31: 10-12."

This is most useful, ok, being kind of nerdy here:
"Contributions are a significant revenue source for most NPOs (non-profit organizations including the church). Theses entities often refer to contributions as public support. SFAS No. 116 defines a 'contribution' as follows: An UNCONDITIONAL transfer of cash or other assets to an entity or a settlement or cancellation of its liabilities in a VOLUNTARY NONRECIPROCAL TRANSFER by another entity acting other than as owner." P. 652

[Sher Marie · Rating 4 out of 5]

Glad its over. Well written for MBA level govt and non-profit accounting profesionals.