Categories of Local Government - Governmental & NPO Accounting-Spring 2014(L1)-Professor Reck
Lecture #1
CHAPTER 1
Three Major Categories of State or Local Government
CHAPTER 2
Financial Reporting For State and Local Governments
Introduction 0:00
Learning Objectives 7:21
Describing Governmental Accounting Practices 12:12
Governmental Organizations 15:00
Not for Profit Organizations 18:40
Financial Reporting Standards 24:17
Objectives of Financial Reporting 32:42
Government-wide Financial Statements 44:44
Fund Financial Statements 49:00
CAFR - Introductory Section 106:30
Review QUIZ 120:00
Chap 2 - Financial Reporting For State and Local Governments
03-03-14
Measurement Focus 129:00
Basis of Accounting 131:10
Required Financial Statements 135:00
Governmental Funds 207:00
After giving a brief overview of the learning objectives of the chapter, the measurement focus is outlined (including the difference between operational and fiscal accountability). The modified accrual basis of accounting and accrual basis of accounting are also compared and contrasted. Following that, the primary activities of the government are discussed as well as the two basic sets of financial statements involved (government-wide and fund financial statements). Funds are also defined, as well as the different categories of funds (governmental funds, proprietary funds, and fiduciary funds) - however, governmental funds are focused on the most during this lecture. Lastly, the dual effect of capital and related transactions is explained (including in-depth journal entries).
NOTE: Throughout the lecture, the Professor displays
financial statements and diagrams to facilitate learning.
To properly view them, it is recommended to switch to
full screen mode and use HD quality (1080p).
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