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Accounting for Governmental & Nonprofit Entities 2025 Evergreen Release By Jacqueline Reck, Suzanne Lowensohn, Daniel Neely

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Document details

Pages: 834
File size: 14.3 MB
Format: Digital PDF
Course: Accounting
Category: eBook[PDF]

About this ebook

Accounting for Governmental & Nonprofit Entities (2025 Evergreen Release) by Jacqueline Reck, Suzanne Lowensohn, and Daniel Neely is the premier, market-leading textbook for public sector and not-for-profit accounting. Published by McGraw Hill, this authoritative text has guided students, auditors, and public managers for more than 70 years. [1, 2]

📘 Book Overview

Target Audience: Accounting students, auditors, CPA candidates, public sector managers, and nonprofit leaders.
Core Focus: Teaching specialized financial reporting, regulatory compliance, and unique accounting practices.
Primary Frameworks: Detailed coverage of Governmental Accounting Standards Board (GASB) rules for state/local governments and Financial Accounting Standards Board (FASB) rules for nonprofits. [1, 2, 3, 4, 5]

🔑 Key Concepts Covered

Fund Accounting: Tracking segregated resources restricted for specific programs or legislative intents.
Operational Accountability: Using the accrual basis of accounting to review economic resources.
Fiscal Accountability: Using the modified accrual basis to track short-term financial inflows and outflows.
Government-Wide Financials: Creating high-level statements like the Statement of Net Position and Statement of Activities.
Nonprofit Reporting: Managing net assets with or without donor restrictions. [1, 2, 3, 4]