Federal Accounting Handbook: Policies, Standards, Procedures, Practices

✍ Scribed by Kearney, Tierney C.E., Green J.W.

• Publisher: Wiley
• Year: 2006
• Tongue: English
• Leaves: 402
• Category: Library

✦ Synopsis

Now in a second edition, Federal Accounting Handbook is the handbook that every financial federal employee can use, covering all of the recent revisions including new FASAB standards and how Congress wants the intent and objectives of the Sarbanes-Oxley Act to be implemented by federal departments and agencies. Written for both the professional and the non-professional, this handbook equips you with the what, why, when, and how of federal financial management

✦ Table of Contents

Wiley Federal Accounting Handbook, Second Edition......Page 5
CONTENTS......Page 7
PREFACE......Page 9
ABOUT THE AUTHORS......Page 11
INTRODUCTION......Page 13
PART 1: THE NATURE OF FINANCIAL MANAGEMENT IN THE FEDERAL GOVERNMENT......Page 27
OBJECTIVES OF FEDERAL ACCOUNTING......Page 29
IMPLEMENTING ACCOUNTING IN THE FEDERAL GOVERNMENT......Page 30
SELECTED FINANCIAL LEGISLATION......Page 33
CHAPTER 2: THE CHIEF FINANCIAL OFFICERS ACT OF 1990......Page 47
THE CHIEF FINANCIAL OFFICERS ACT OF 1990......Page 50
ADDRESSING THE DEFICIENCIES OF THE CHIEF FINANCIAL OFFICERS ACT OF 1990......Page 58
THE FEDERAL BUDGET DEFINED......Page 67
PHASES OF THE BUDGET CYCLE......Page 72
A CHANGED BUDGET PROCESS......Page 83
BUDGETING CONCEPTS......Page 85
CHAPTER 4: ACCOUNTING EVENTS OF THE FEDERAL GOVERNMENT......Page 89
ACCOUNTABLE BUDGETARY EVENTS......Page 92
ACCOUNTABLE PROPRIETARY EVENTS......Page 102
CHAPTER 5: BUDGETARY AND PROPRIETARY ACCOUNTING PRACTICES......Page 107
FEDERAL BUDGETARY ACCOUNTING PRACTICES......Page 108
FEDERAL PROPRIETARY ACCOUNTING PRACTICES......Page 117
APPENDIX FEDERAL CREDIT REFORM......Page 123
LEGAL BASIS FOR TREASURY ACTIVITIES......Page 131
THE CENTRAL ACCOUNTS SYSTEM......Page 133
TREASURY FISCAL POLICIES AND PROCEDURES......Page 145
CHAPTER 7: FEDERAL FINANCIAL AND INFORMATION SYSTEMS......Page 159
FEDERAL ACCOUNTING AND FINANCIAL REPORTING......Page 160
FEDERAL FINANCIAL MANAGEMENT SYSTEM REQUIREMENTS......Page 162
THE STANDARD GENERAL LEDGER......Page 171
SYSTEM INTEGRATION AND INTERRELATIONSHIPS......Page 176
COMMON PROBLEMS IN SYSTEMS PROJECTS......Page 178
CHAPTER 8: FEDERAL FINANCIAL STATEMENTS......Page 181
USERS OF FEDERAL FINANCIAL INFORMATION......Page 182
ENTITY FINANCIAL STATEMENTS......Page 184
FEDERAL ENTITY BALANCE SHEETS......Page 185
STATEMENT OF NET COST......Page 190
STATEMENT OF CHANGES IN NET POSITION......Page 192
STATEMENT OF BUDGETARY RESOURCES......Page 194
STATEMENT OF FINANCING......Page 197
STATEMENT OF CUSTODIAL ACTIVITY......Page 199
MANAGEMENT DISCUSSION AND ANALYSIS......Page 200
FOOTNOTES TO FEDERAL ENTITY FINANCIAL STATEMENTS......Page 201
GOVERNMENT-WIDE FINANCIAL STATEMENTS......Page 204
PART 2: ACCOUNTING PRACTICES FOR SELECTED FEDERAL ACTIVITIES AND TRANSACTIONS......Page 207
PAY, LEAVE, AND ALLOWANCES......Page 209
TRAVEL AND TRANSPORTATION......Page 222
DEFINITIONS......Page 237
INTERAGENCY AND OTHER EXPENDITURES......Page 255
RECEIPTS, TRANSFERS, REIMBURSEMENTS, AND REFUNDS......Page 266
FEDERAL ENTITIES WITH RELEVANT ACCOUNTING RESPONSIBILITIES......Page 281
LIABILITIES......Page 301
NET EQUITY POSITION......Page 308
REVOLVING AND SIMILAR-TYPE FUNDS......Page 309
SERVICE OF SUPPLY FUNDS AND INDUSTRIAL FUNDS......Page 316
BACKGROUND......Page 337
COSTING METHODOLOGIES......Page 341
SPECIAL GOVERNMENTAL COST STUDIES: USER CHARGES, USER FEES, AND “MAKE OR BUY” DECISIONS......Page 344
FEDERAL ENTITY COSTING......Page 354
PROGRAM AND MANAGERIAL COSTING......Page 357
COSTING FEDERAL BUSINESSES......Page 359
CHAPTER 15: GRANTS......Page 361
COOPERATIVE AGREEMENTS......Page 376
APPENDIX: THE FEDERAL GOVERNMENT AND SARBANES-OXLEY......Page 379
FEDERAL CONTROLS: DEPARTMENTS AND AGENCIES......Page 382
Index......Page 395