Governmental Accounting: Fundamental Principles (Portfolio 5140)

  • This Portfolio provides an understanding of the similarities and differences between for-profit and governmental accounting, and perspective on the development of these fundamentals.


Bloomberg Tax Accounting Portfolio 5140-4th, Governmental Accounting: Fundamental Principles (Accounting Policy and Practice Series), provides a comprehensive discussion on the fundamentals of governmental accounting. This Portfolio gives the user an understanding of the similarities and differences between for-profit and governmental accounting, and a historical perspective on the development of these fundamentals. It analyzes the conceptual framework of governmental accounting, Government Accounting Standards Board (GASB) standards, the hierarchy of governmental generally accepted accounting principles (GAAP), and the financial reporting process including a discussion of the reporting entity and bases of accounting.

The Portfolio also addresses governmental audit agencies, budgets, internal control concepts, fund accounting, the types of funds, and fund financial reporting and preparation. The Portfolio discusses entity-wide financial statements, including the statement of net assets and statement of activities.

A Portfolio on governmental accounting would not be complete without a section on the preparation of the basic financial statements incorporated within the comprehensive annual financial report. The Portfolio must also include sections addressing states and other large governments along with their problems and particular issues. There is a section on special reporting issues, including bond official statements, electronic reporting, and popular financial reports, including citizen’s centric reports. Finally, a comprehensive set of worksheets, examples, and a bibliography complete the Portfolio.

Table of Contents

I. Governmental Accounting— An Overview
II. Perspectives and Overarching Themes of Governmental Accounting
III. Fund Accounting
IV. The Entity Wide Financial Statements
V. Reporting

Donald Deis Jr.
Joslin Endowed Chair & TAMUS Regents Professor of Accounting
Texas A&M University, Corpus Christi
Eric Berman
Eide Bailly LLP
Saleha Khumawala
Robert Grinaker Professor of Accounting and Founding Director, Nonprofit Management and Microfinance
University of Houston
Tammy R. Waymire
Middle Tennessee State University
Warren Perry
Warren Perry
Oracle Systems Accountant
Kearney & Company