16
GASB 34 Financial Statements
Education
Constituents and Other Outside Users
Education
Policy Makers and Other Internal Users
Policy Considerations
uNew Funds
uMajor Funds
uDepreciation alternatives
uInfrastructure modified approach
uCapitalization thresholds
uValuation of assets
uEnterprise activities
uIndirect cost allocation
uInternal service activities
uProgram expense distribution
uProgram revenues
uMD & A content
uBudgetary presentation
uRestricted assets
Accounting Issues
uMajor funds
uEnterprise fund accnt’g
uInternal service fund accounting
uInfrastructure/modified approach
uCapitalized interest cost
uDepreciation/accum dep
uValuation of receivables
uInventory valuation
uRestricted assets
uL-T liabilities
uElimination of internal allocations
uAccrual adjustments
uCost allocation
uInterest exp distrib.
uFASB stmts
Reporting Issues
uMajor funds
uEnterprise funds
uInternal service funds
uPensions
uLiabilities
uFixed assets
uFunctional categories
uStmt of net assets
uStmt of activities
uDirect stmt of cash flows
uFootnotes & RSI
uBudget presentation
uMD&A
uGov’t wide vs fund reconciliation
uFixed asset infrastructure
uFunctionalization of revenues/expenses
uIndirect cost allocation
uCapitalized interest
uBudget information
uGov’t wide vs. fund reconciliation
uDepreciation expense distribution
uLong/short-term liabilities
uInterfund transactions
uAccrual basis adjustments
uReport compilation
uMD&A
System Capabilities