Product Description

A comprehensive guide to the accounting and financial reporting principles used by state and local governments
As more governmental accounting standards are issued, preparers need clear guidance. The Wiley GAAP for Governments 2020: Interpretation and Application of Generally Accepted Accounting Principles for State and Local Governments guides preparers through the standards and their increasing complexity. This is a comprehensive guide to the accounting and financial reporting principles for state and local governments, as well as other government organizations. It has been written to address the needs of users and serve as a helpful resource.
Wiley GAAP for Governments 2020 covers the key developments in governmental GAAP that occurred in 2019. Financial professionals can turn to this reliable reference for detailed information and guidance on implementing newly issued and revised standards. Charts and diagrams encourage enhanced understanding of the information.
Practitioners will find that the book offers:

Coverage of financial statements for school districts, public authorities, and pension plans
Timely information about implementing accounting updates
Content that stands as an application guide for practitioners
Checklist for preparers to help ensure that all required disclosures are completed

This thorough guide can help financial professionals successfully navigate the complexities of the latest governmental accounting standards. It is a practical resource for those who prepare the critical financial statements of government entities.

From the Inside Flap

The definitive guide to governmental GAAP compliance, fully updated for 2020
Fully updated for 2020, Wiley GAAP for Governments provides clear and accurate guidance on the accounting and financial reporting principles used by state and local governments and governmental entities. Covering the latest pronouncements issued by the Governmental Accounting Standards Board (GASB) and proposed new statements or interpretations currently outstanding, this authoritative resource is designed for real-world applicationcontaining a disclosure checklist for financial statements, flowcharts, diagrams, and charts to ensure readers understand the technical requirements of properly applying accounting standards.
The book presents an overview of governmental accounting principles, describes the types of funds used by governmental entities, and explains financial reporting for various assets, liabilities, expenditures, and revenues. In-depth chapters examine the accounting and reporting requirements for a range of specific entities, such as school districts, public employee pension funds, governmental colleges and universities, and public hospitals and healthcare providers. Topics include revenue funds, capital project funds, fiduciary funds, cash and investments valuation and disclosures, risk financing and insurance, and many others.
Governmental accounting is a specialized, rapidly changing environment. Wiley GAAP for Governments 2020 is an indispensable volume for professionals in need of current information and expert guidance on preparing and auditing financial statements and maintaining compliance.

From the Back Cover