TEST BANK FOR ACCOUNTING
FOR GOVERNMENTAL &
NONPROFIT ENTITIES, 19TH
EDITION JACQUELINE RECK,
SUZANNE LOWENSOHN, EARL
WILSON
Version 1 1
,TABLE OF CONTENTS
1. Chapter 1: Introduction To Accounting And Financial Reporting For Government
And Not-For-Profit Entities
Welcome To Government And Not-For-Profit Accounting
Distinguishing Government And Not-For-Profit Organizations
What Are Government And Not-For-Profit Organizations?
Distinguishing Characteristics Of Government And Not-For-Profit Organizations
Overview Of Chapters 2 Through 17
2. Chapter 2: Principles Of Accounting And Financial Reporting For State And Local
3. Chapter 3: Governmental Operating Statement Accounts; Budgetary Accounting
4. Chapter 4: Accounting For Governmental Operating Activities—Illustrative
5. Chapter 5: Accounting For General Capital Assets And Capital Projects
6. Chapter 6: Accounting For General Long-Term Liabilities And Debt Service
7. Chapter 7: Accounting For The Business-Type Activities Of State And Local
8. Chapter 8: Accounting For Fiduciary Activities—Custodial And Trust Funds
9. Chapter 9: Financial Reporting Of State And Local Governments
10. Chapter 10: Analysis Of Government Financial Performance
11. Chapter 11: Auditing Of Government And Not-For-Profit Organizations
12. Chapter 12: Budgeting And Performance Measurement
13. Chapter 13: Not-For-Profit Organizations—Regulatory, Taxation, And
14. Chapter 14: Accounting For Not-For-Profit Organizations
15. Chapter 15: Accounting For Colleges And Universities
16. Chapter 16: Accounting For Health Care Organizations
17. Chapter 17: Accounting And Reporting For The Federal Government
Version 1 2
,Student Name:_
1) Explain The Essential Differences Between General Purpose And Special
Purpose Governments And Give Several Examples Of Each.
2) Identify And Explain The Characteristics That Distinguish Governments And Not-For-
Profit Entities From Business Entities.
3) GASB And FASB Standards Are Concerned Only With External Financial Reporting; Whereas,
FASAB Standards Are Concerned With Both Internal And External Financial Reporting. Do You
Agree With This Statement? Why Or Why Not?
4) Why Should Persons Interested In Reading Financial Reports Of Governments And Not-
For- Profit Entities Be Familiar With Standards Set By The GASB And The FASB?
Version 1 3
, 5) Explain In Your Own Words Why Accountability Is The Cornerstone Of All Financial
Reporting In Government.
6) In Your Own Words State The Primary Needs The GASB Believes External Users Have For
Financial Reports Of State And Local Governments. For Contrast, State The Uses The FASB
Believes External Users Have For The Financial Reports Of Not-For-Profit Organizations.
7) Describe The Difference Between A Comprehensive Annual Financial Report (CAFR) And
GASB General Purpose External Financial Reporting For State And Local Governments.
8) Identify And Briefly Explain The Four Sections Of The Performance And Accountability Report
(PAR) That The Office Of Management And Budget Requires Major Federal Departments And
Agencies To Prepare.
Version 1 4
FOR GOVERNMENTAL &
NONPROFIT ENTITIES, 19TH
EDITION JACQUELINE RECK,
SUZANNE LOWENSOHN, EARL
WILSON
Version 1 1
,TABLE OF CONTENTS
1. Chapter 1: Introduction To Accounting And Financial Reporting For Government
And Not-For-Profit Entities
Welcome To Government And Not-For-Profit Accounting
Distinguishing Government And Not-For-Profit Organizations
What Are Government And Not-For-Profit Organizations?
Distinguishing Characteristics Of Government And Not-For-Profit Organizations
Overview Of Chapters 2 Through 17
2. Chapter 2: Principles Of Accounting And Financial Reporting For State And Local
3. Chapter 3: Governmental Operating Statement Accounts; Budgetary Accounting
4. Chapter 4: Accounting For Governmental Operating Activities—Illustrative
5. Chapter 5: Accounting For General Capital Assets And Capital Projects
6. Chapter 6: Accounting For General Long-Term Liabilities And Debt Service
7. Chapter 7: Accounting For The Business-Type Activities Of State And Local
8. Chapter 8: Accounting For Fiduciary Activities—Custodial And Trust Funds
9. Chapter 9: Financial Reporting Of State And Local Governments
10. Chapter 10: Analysis Of Government Financial Performance
11. Chapter 11: Auditing Of Government And Not-For-Profit Organizations
12. Chapter 12: Budgeting And Performance Measurement
13. Chapter 13: Not-For-Profit Organizations—Regulatory, Taxation, And
14. Chapter 14: Accounting For Not-For-Profit Organizations
15. Chapter 15: Accounting For Colleges And Universities
16. Chapter 16: Accounting For Health Care Organizations
17. Chapter 17: Accounting And Reporting For The Federal Government
Version 1 2
,Student Name:_
1) Explain The Essential Differences Between General Purpose And Special
Purpose Governments And Give Several Examples Of Each.
2) Identify And Explain The Characteristics That Distinguish Governments And Not-For-
Profit Entities From Business Entities.
3) GASB And FASB Standards Are Concerned Only With External Financial Reporting; Whereas,
FASAB Standards Are Concerned With Both Internal And External Financial Reporting. Do You
Agree With This Statement? Why Or Why Not?
4) Why Should Persons Interested In Reading Financial Reports Of Governments And Not-
For- Profit Entities Be Familiar With Standards Set By The GASB And The FASB?
Version 1 3
, 5) Explain In Your Own Words Why Accountability Is The Cornerstone Of All Financial
Reporting In Government.
6) In Your Own Words State The Primary Needs The GASB Believes External Users Have For
Financial Reports Of State And Local Governments. For Contrast, State The Uses The FASB
Believes External Users Have For The Financial Reports Of Not-For-Profit Organizations.
7) Describe The Difference Between A Comprehensive Annual Financial Report (CAFR) And
GASB General Purpose External Financial Reporting For State And Local Governments.
8) Identify And Briefly Explain The Four Sections Of The Performance And Accountability Report
(PAR) That The Office Of Management And Budget Requires Major Federal Departments And
Agencies To Prepare.
Version 1 4
