GASB 34 Financial Statements
Education
Constituents and Other Outside Users
Education
Policy Makers and Other Internal Users
Policy Considerations
uNew Funds
uMajor Funds
uCapitalization thresholds
uValuation of assets
uEnterprise activities
uMD & A content
uBudgetary presentation
u
u
Accounting Issues
uEnterprise fund accounting
uInfrastructure
uDepreciation
uValuation of receivables
uL-T liabilities
uElimination of internal allocations
uAccrual adjustments
u
Reporting Issues
uFixed assets
uStmt of net assets
uStmt of activities
uDirect stmt of cash flows
uFootnotes & RSI
uMD&A
uGov’t wide vs fund reconciliation
uFixed asset infrastructure
uFunctionalization of revenues/expenses
uDepreciation expense distribution
uLong/short-term liabilities
uInterfund transactions
uAccrual basis adjustments
uReport compilation
System Capabilities