Accounting and Financial Reporting

Accounting for Capital Assets: A Guide for State and Local Governments

Accounting for Capital Assets

Accounting for Capital Assets:
A Guide for State and Local Governments

(204 pages; softbound; written by Stephen J. Gauthier, Director, GFOA Technical Services Center, and author of Governmental Accounting, Auditing, and Financial Reporting, known as the "Blue Book") should prove an invaluable resource. The book includes 10 chapters that cover the gamut of capital asset-related issues:

  • Capital Assets: Definition, Accounting Function, Types, and Basic Information Requirements
  • Basic Accounting
  • Major Asset Classes
  • Capitalizable Costs
  • Valuation of Capital Assets for Financial Reporting Purposes
  • Impairments
  • Depreciation
  • Financial Statement Presentation and Disclosure
  • System Design and Policies
  • Inventorying

Each chapter is immediately followed by a handy "chapter in brief" summary and a series of multiple-choice questions (with answers and explanations provided in an appendix). The book also provides an extensive set of sample journal entries illustrating a wide range of situations, from transactions with outside parties to internal activity within the primary government. Readers also can take advantage of a detailed index, which makes access to exactly the right information both quick and easy, as well as of a full glossary.

Preview Book

  • LOC no. 2008936226
  • ISBN 978-0-89125-298-6
  • $40 members | $60 nonmembers

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