案例7 23far第八次課

ernmentalFinancialReportingRequirementsofGASB ernmentalMeettheoperatingobjectives:efficientlyandFiscalFundFinancialCompliedwithpublicdecisionsconcerningtheraisingandspendingofpublicfundsintheshort-term.IntegratedRequiresfinancialaccountinganddisclosuretoOperationalandfiscalaccountabilityRelationshipbetweenoperationalandfiscalaccountabilitythroughareconciliation.Basic

FundF/SNotesto3,RequiredsupplementaryInformationotherthan4.OtherSupplementaryReportingforGeneral ernmentalManagement’sDiscussion ysisbeforeysis Statement Position StatementofActivitiesFundernmentalFund(GRaSPP)ProprietaryFunds(SE)FiduciaryFund(PAPI)NotestoRequiredsupplementaryInformationotherthanBudgetarycomparisonPensionCombingstatementfornonmajor weenoriginalbudgetandfinal weenbudgetsandactualvs.OptionalComprehensiveAnnualFinancialReport(=LetterofListof ipleBasicF/SandRequiredSupplementaryStatisticalSection(10yearsfinancialandeconomic9FinancialReporting ernment-wideF/Sfocuson ernment GeneralPurpose ernments(cityorSpecialpurpose ernments–meetALLcriteria:(“SELF” y erningbody獨立權(quán)Legallyseparate可以上Fiscallytofotherstateand ernment獨立ComponentUnitofthe BlendedPresentation(meetANYcriteria“SON”)(同Aboardofthecomponentunitissubstantivelythesameasthatoftheprimary Thecomponentunitservesthe ernmentThecomponentunitisnotasepara egalentity并非獨人Note：CombineFIwiththeprimary ernment,andFIisnotpresentedinseparatecolumns.DiscretePresentation(mostcommon同子公司Notblendedpresentation→DiscreteDisyscomponentunitsinseparatecolumns（縣教委ThosecomponentunitsshouldusediscreteForBoardofEducationorRescueSquad（救援隊ReportingNot-for-ProfitEntitiesasaComponentUnitofernment與ernment有緊密聯(lián)系Prongoingsupporttoaprimaryernmentortoacomponentunitofthatprimaryernmentmayalsobeacomponentunitoftheprimaryernment.ForPrivatefoundationsassociatedwithstatePrivatefoundationsassociatedwithpublichealthcareFinancialReportsManagement’sDiscussion& ysis(MD&A,requiredsupplementaryinformation):BeforeF/SDescriptionoftheAbriefdiscussionoftheCondensedF/Sinformationderived ysisofoverallfinancialpositionandresultsofoperations.(reasonsforchangesfromtheprioryear) ysisofbalancesandtransactionofindividualfunds.(limitationsonfutureusesoffund) ysisofsignificantvariationsbetweenoriginalandfinalAdescriptionofthesignificantIdentityofthe ernmentanddiscretecomponentEconomicConditionsand ernment-wideF/S(Economicresourcesmeasurementandfullaccrualbasisarerequired)Statement Position:=Assets-3Components apitalFiduciaryFunds(PAPI)are luded CapitalCost+allancillarychargestocetheConstructionperiodInterest→Infrastructure（基礎(chǔ)設(shè)施)Depreciationapproach:AllAssetsmeetingcapitalizationrequirement→Depreciationexpense.Modifiedapproach:infrastructureassetsthataparto workorsubsystemof work→DepreciationexpenseMaybeusedifmeetthefollowing2Requirement1- ernment’sAssetManagementSystemmeetscertainInventoryofeligibleinfrastructureassetsisup-to- Asummarizedconditionassessmentoftheeligibleinfrastructureassetsisperformed. Eachyear,anestimateismadeoftheamtnecessarytomaintainandpreservetheeligibleinfrastructureassetsattheconditionlevelestablishedanddisclosedbythe Requirement2-The ationshould ludedataonassetpreservation.Completeconditionassessmentatleastevery3assessmentsupporttheeligibleinfrastructureassetsarebeingpresentedatorabovetheconditionlevelsestablishedanddisclosedbythe ModifiedApproach→RequiredChangeinRequiredApproach→ModifiedRequiredtodetermineifimpairmentofassetInsurancerecoveries→theArtworkandHistoricalGR:capitalizeartworkandhistoricaltreasuresathistoricalcostorFVatdateofdonation.SR:nottocapitalizeartworkswhenmeetalThecollectionisheldforpublicexhibition(ratherthanThecollectionisTheproceedsfromsaletobeusedtoacquireotherStatementofActivities(fullaccrual)–Functions/Programs:exp/rev.foreachfunctionorprogramisclassifiedintooneof3categories) ernmentalactivities(GRaSPP+S Componentunits(RescueSquad&BoardofExpenses–fullaccrualProgramRevenue–fullaccrualProgramRevenueCategoryTypes(“SOC”)S:ChargesforService ludingfinesandO:OperatingGrantsandContributionsrestrictedinparticularprogram.C:CapitalGrantsandContributions(資本捐贈）InternalServiceFunds ernmentalactivities.GRaSPP+FundFinancialStatements(RequiredforG,P,MajorFund(ForGandE)–2criteria10%&5%mustbe-≥10%:totalrevenue,expenditurepenses,assetsanddeferredoutflowsofresourcesorliabilitiesanddeferredinflowsofresourcesof:Allernmentalfunds(forAllenterprisefunds(for≥5%:totalrevenue,expenditure penses,assetsanddeferredoutflowsofresourcesorliabilitiesanddeferredinflowsofresourcesofall ernmentalfundsandallenterprisefundscombine.GeneralfundisalwaysconsideredamajorInternalservicefundswillnotbeconsideredintheevaluationsofmajorandnon-majorfunds.Onlyenterprisefundsusesinthedeterminationofmajorandnon-majorfunds. ernmentfundF/StoGW-Thedifferencesinthefundbalanceof ernmentalfunsanpositionintheGWF/S.GALS*B/S:GRaSPPfundbalance+Assets– +Service(internal)fun *Basisofaccounting→adjustments:Accrued,RevenuesandThedifferencesinth changeinfundbalancesandchangeipositionfor ernmentalactivities:GOES*StatementofRevenues,Expenditures,andChangesinFundBalance changeinfundbalance-Otherfinancingsources+Expenditureofcapitaloutlay+Service(internal)fun *Basisofaccounting→adjustments:Additionalaccrued,revenuesandExampleforGWFundbalancesofPTownship’s ernmentalfundstotaled$6,555kfortheyearended12/31/Y1.SubsidiaryaccountingrecordsforthetownshipludethefollowingCapitalassetsusedin ernmentalactivities Accu.Depr.oncapitalassetsusedin ernmentprojects obligationsissuedtofinance ernmentalprojects Internalservicefun Proprietaryfun Fiduciary positiondisyedinthe ernmentalactivitiescolumnoftheernment-wideF/Swouldbe:GRaSPPfundbalance+Assets– +Service(internal)Fun =$6,555k+2,000k–500k–2,500k+200k=$5,755kExampleforGWTCityreporteda$1,50 reaseinfundbalancefor funds.Duringtheyear,Tpurchasedgeneralcapitalassetsof$9,000andrecordeddepreciationexpenseof$3,000.WhatamountshouldTreportasthechangei positionfor ernmentalactivities?Change ernmentalFundBalance–OtherFinancingSourcesExpenditure:Capitaloutlayofdepreciation)+InternalServiceFund=$1,500–0+(9000–3000)+0=$7,500(Changei positioninernment–widefinancialstatements)StatementofCashFlow(7differencescomparedwithcommercial)ThedirectmethodisAreconciliationofoperating et cashprovidedbyoperationsisrequired.4Capitalandrelatedfinancingactivities融資建橋InvestingTheorderoffinancingandinvestingactivitiesare e/cashreceipts→investingactivities(notoperatingInterestexpensecashpayments→financingactivities(notoperatingactivities).Capitalassetpurchases→financingactivities(notinvestingNotestoF/S:focusonthe ernmentalAdescription ernment–wideactivities.PoliciesrelatingtoeliminationofinternalDescriptionofthemodifiedapproachforreporting（if ernmentalDescriptionofmajorfunds,internalservicefunds,fiduciaryThelengthoftimeusedtodefine“available”indeterminingrevenuerecognitionunderthemodifiedaccrualbasis(measurableandavailable)(60days)Actionstakentocorrectmaterial pliancewithfinance-relatedorlegalcompliance.RequiredSupplementaryInformation(RSI)otherthanBudgetaryBudgetarycomparisonschedulesmustshowtheoriginalbudget,thefinalamendedbudget,andactualamts.ComputationofvariancesbetweenbudgetandComputationofdifferencesbetweenoriginalandfinalamendedbudget.Infrastructureinformation(formodifiedAssessedconditionofAnnualamttomaintainandpreserveinfrastructureforeachthepast5yrs.Pensioninformationshouldbepresentedforeachofthe10mostrecentfiscalyear.Combiningstatementsfornon-majorDF:flowofresourcesbetweenfundsandbetweentheprimaryernmentanditscomponentunits.Reciprocalinter-fundactivitiesNon-reciprocalinter-fundactivitiesInter-fundLoans(fund之間的行為：duefrom/dueInter-fundservicesprovidedandUsed(atexternalNonreciprocalinter-fundactivities(非型Inter-fundTransfers:withouttheexchangeofequivalentvalue.(otherfinancingsourcesanduses)Inter-fundReimbursements→notdisyedasinter-fundtransaction.(Paymentmadebyonefundonbehalfofanotherfund)F/SdisF/SdisActivitieswithin ernmentalactivitiesoftheGWF/SActivitieswithinthebusiness-typeactivitiesoftheGWF/SBetweenthe ernmentalactivitiesandbusinesstypeactivitiesdisyedonthe ernment-wideF/S→Eliminate.Betweenthe ernmentanditsfiduciaryfundsF8-2Not-For-ProfitGeneraloverview:NFPOrganizationRevenuescomefromOperatingpurpose: ludeOwnershi:unlikebusiness4categoriesofHeathCareOrganizations(hospital,nursinghomes,EducationalInstitutions(colleges&VoluntaryHealthandWelfareOrganizations(redOtherPrivateNFPOrganizationFullAccrualBasisofOverallemphasisofNFPF/Sisonbasicinformationfortheorganizationasawhole.EmphasisisondisclosinghowthesourceswereFinancialReportingStandardsapplicabletoNPFRequiredStatementofFinancialPositionStatementofActivitiesStatementofCashFlowsStatementofFunctionalExpenses:voluntaryhealthandwelfareorganizations(VHWO)required.StatementofFinancialPosition=3Components:Assets,liability, AssetsAssetsandLiabilitiesshouldbeclassifiedascurrentornon-Current=TobespentNon-current=TobepermanentlyheldAssets(Restricted&Unrestricted)“PUT” NotpermanentlyortemporarilyInternalboard-designatedfundsareconsideredDonor-imposedstipulationseitherexpirebypassageoftimeorcanbefulfilledandremovedbyactionsoftheorganization.ItshouldnotbedisyedasaAnyover-expenditure→reductionof limitedbydonor-imposedneitherexpirebypassageoftimenorcanbe4 AssetsCategories: PositionCategories:investment apitalassets,Restricted,StatementofActivities=FourRequiredElementsChangein Changein Changeintemporarily Changeinpermanently 4ClassificationofRevenue,Gains,andOtherSupportUnrestrictedNorestrictionsarespecifiedbytheTemporarilyRestrictedpurpose,time,acquisitionofPermanentlyRestrictedcontributionsthatcanneverbeTimingofReclassificationofContributionwithdonor-imposedrestriction→RestrictedRestrictionissatisfied assetanddecreaseRestrictionsaremetinthesameperiodtheyrarereceived→mayrecordedasunrestricted.Expense→Decreasesin assets→DetailfunctionalclassificationmustbepresentedeitheronthefaceoffinancialsorthenotestotheF/SSupportiveServices:LikeSG&A,fundingCombinedCost:shouldbe weenStatementofCashFlow:(eitherdirectorindirectOperatingludeapplicableagencyDirectmethod:operatingactivitiesshouldbereportedbymajorclassofgrossreceipts.(contributions,program e,inter eor ludereceiptsofunrestrictedresourcesdesignatedbytheerningbodytobeusedforlong-livedassets.FinancingCashtransactionrelatedtoCashtransactionrelatedtocertainrestricted-ProceedsfromRestrictedContributionsofunrestrictedrevenuelaterearmarked(boarddesignated)forconstructionorpurchaseoflong-livedassets→OperatingInvestingProceedsfromthesaleofartworksorpurchasesofworksofInvestmentin ludeproceedsfromthesaleofassetsthatwerereceivedinpriorperiodsandwhosesaleproceedswererestrictedtoinvestmentinequipment.(sellitandinvestinnewstuff)Example:CashandCashExcludedonor-restrictedsecuritiesthatmeetthedefinitionincommercialaccounting.NFPfollowFASBtoprepareGASBhas4elements:Operating,Capital,Noncapital,FASBhas3elements:Operating,Investing,ExampleforNFPPanon- ernmentalnot-for-profitorganization,ispreparingitsyear-endfinancialstatement.Q.WhichofthefollowingstatementisStatementofchangesinfinancialStatementofcashStatementofchangesinfundStatementofrevenue,expenses,andchangesinfundSolution:NFPsarerequiredtoStatementofFinancialPositionStatementofActivitiesStatementofCashFlowsStatementofFunctionalExpenses:VHWOExampleforJackFoundation,anot-for-profitorganization,receivedcontributionsinUnrestrictedcashcontributionsofCashcontributionsof$200,000toberestrictedtoacquisitionofQ.Jack'sstatementofcashflowsinY1 ludewhichoftheInvestinga.b.c. Theunrestrictedcashcontributionstotaling$500,000arereportedasreasesinoperatingactivitiesinthestatementofcashflows.The$200,000restrictedcashcontributionsarereportedas reasesinfinancingactivitiess etherestrictionistheacquisitionofproperty,notgeneralExampleforSCollege,anot-for-profitorganization,receivedabuildingwithnodonorstipulationsastoitsuse.Stantondoesnothaveanaccountingimplyingatimerestrictionondonatedassets.Whattypeo assetsshouldbe whenthebuildingwasreceived?a)IIonly;b)IIIonly;c)I d)IIorStatementofFunctionalMandatoryforvoluntaryhealthandwelfareorganizationOptionalforallotherNFPClassificationofProgramsupportexpenses(suchascancerManagementandgeneralAccountingforContributionsReceivedandContributionsandCashcontributions:Received=UnconditionalPromises:Pledge=AsrevenueatitsFVwhenpromiseisPledgemaybewrittenorverbal(burverbalpledgeneedtobe ConditionalPromises有條件的承諾):EarnedTransactiondependsonanoccurrenceofafutureanduncertainSubjecttoresolutionofacontingency.Theconditionmustberesolvedbeforethepledgecanberecognizedasareceivableandtheassociatedrevenuerecognizedandclassified.AllowanceforUncollectiblePledgesNRVfullaccrual)提壞帳SpecializedSupport GR:Notrecord.SR:RecordasrevenueandexpenseatFVifmeettheCreateorenhanceanon-financialasset(land,building,etc),Requirespecializedskillsthattheproviderpossessesandwouldotherwisehavebeenpurchasedbytheorganization.- Specialized OtherwiseneededbytheMeasurableDr.Expenseor (Expensesassociatedwithsolicitationofcontributionsofvolunteersassistance→fundraisingexpenses)ExampleforAstormdamagedtheroofofanewbuildingownedbynot-for-profitorganization.Asupporteroftheorganization,aprofessionalroofer,repairedtheroofatnocharge.IntheNFPstatementofactivities,thedamageandrepairoftheroofshould:BereportbynotedisclosureBereportedas reaseinbothexpensesandBereportedas reasein assetsandNotbeDr. DonatedCollectionItem(artworksorhistoricaltreasures)arenotrequiredtoberecordedbyrecipientNFPif:Forpublicviewing,exhibition,education,research.(notforinvestmentorfinancialgain)Itiscaredfor, ,andprotectedbytheTheorganizationhasathatrequiresanyproceedsfromthesaleofdonateditemstobereinvestedinothercollectionitems.Donatedmaterial=atRecordingPromisestocontributeandotherSupportUnconditionalpromisestocontributeinthefuture→restrictedsupport(timerestrict)—Temporarilyrestricted.Dr.Pledgereceivable–temporarily Allowancefordoubtful Contributionrevenue–temporarily -Collect→Earned:movefromrestrictedassetstounrestrictedExampleforTheleague,not-for-profitorganization,receivedthefollowing Restrictedforcapital Allpledgesarelegallyen able;however,theLeague’ indicatesthat10%ofallpledgesprovetobeuncollectible.Q.WhatamtshouldtheLeaguereportaspledgesreceivableofanyrequiredallowanceaccount? b) c) d)RestrictedContributions:Spendit=Earnedit(remove assets:insavingsDr.Pledgereceivable–temporarilyrestricted Allowancefordoubtfulaccounts RestrictedRevenue–temporarily ReceivableiscollectedandwhenmoneyisspentonrestrictedpurposeDr.Reclassification–satisfactionofrestriction Dr. Reclassification–SatisfactionofrestrictionDr.Operatingexpense Cash/ DistinguishingContributionsfromOtherAgencyTransactions():NFPhaslittleornodiscretionorvariancepowerNFP有極少的決定和變通的權(quán)利)Donor限制捐贈的使用目的RestrictedDonor限制受益人liability(NPFhasnovarianceGiftin-kind實物捐贈）bookfurniture,…atExchangeTransaction=buyer&seller慈善總會買賀卡ContributionRevenue=AmtTransferred–FVExchangetransactions→unrestrictedrevenues Passkey:Receiptsthatarerestrictedbydonorforspecific→restrictedrevenue reasein Receiptsthatrestrictedbyadonorforspecificbeneficiariesliabilities ehasnovarianceTransfersofassetstoaNFPorCharitableTrustthatraisedorholdscontributionsforothersGR:RecipientAccounting(人WithoutVariancePower:NFPactsasagent/nobenefitorAssetsarevaluedatFVandrecognizedasaliabilitytoDr. RefundableAdvance(LiabilitytoGrantedvariancePower:NFPactsasagent/haspowerDrAsset -ExpensedwhendistributedtotheFinanciallyInterrelatedorganization–GrantedVariancePower:NFPactsasagent/haspower→contributionrevenueExampleP1005 Two①Oneorganizationhastheabilitytoinfluencetheoperatingandfinancialdecisionsoftheother.②Oneorganizationhasanongoingeconomicinterestinthassetsoftheother.RecognitionRule:Specifiedbeneficiariesrecognizedrightstoassetsheldbyothers.RecognizedInterest–FinanciallyInterrelated-Beneficiaryrecognizeaninterestassetsofrecipient.Dr.Assets EquityTransaction(→adjustthebeneficiary’sRecognizedBeneficialInterest(Poolsofassets)=-UnconditionalrighttoreceivespecifiedcashflowsfrompoolsofDr.Beneficiary RecognizedReceivableandContributionRevenue=Revenue(treatmentofallotherunconditionalpromisestogive)Dr. OtherAccountingInvestmentinAtGains/Losses→ assetsandstatementofNFPrecognizesthechangeinFVofallderivativesintheperiodofchange. e/dividend/interest→GR.unrestricteassetsofcurrentperiodBasisofPurchaseF/Aarecarriedatcost(sameGAAPF/AdonatedtoNFP:recordatFVatthedateoftheDepreciationisrecordedinaccordancewithQuasi-endowment:Internal erningboarddeterminesthespecifiedpurpose→designationsofunrestricte NFPSpecificIndustryCollegesandStudenttuitionandfees:grossamtbe=AssessedStudentsTuitionandFees–Cancelled=GrossRevfromTuitionandFee ernmentaid,grants,andGiftsandprivateRestrict