Federal Accounting Handbook: Policies, Standards, Procedures, PracticesNow in a second edition, Federal Accounting Handbook is the handbook that every financial federal employee can use, covering all of the recent revisions including new FASAB standards and how Congress wants the intent and objectives of the Sarbanes-Oxley Act to be implemented by federal departments and agencies. Written for both the professional and the non-professional, this handbook equips you with the what, why, when, and how of federal financial management, |
Contents
PART 2 ACCOUNTING PRACTICES FOR SELECTED FEDERAL ACTIVITIES AND TRANSACTIONS | 181 |
APPENDIX THE FEDERAL GOVERNMENT AND SARBANESOXLEY | 353 |
Index | 369 |
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Common terms and phrases
accepted accounting principles accounting and reporting accounting entry Accounting Standards Accounts payable accounts receivable accrual activities advance agency’s allocation amount Anti-Deficiency Act apportionment approved assets audit Balance with Treasury basis budget authority budgetary accounting cash Chief Financial Officers Circular A-11 common carrier Congress contract contractor cost accounting DEBIT departments and agencies disbursements employees entity’s eral estimated Exhibit expenses FASAB federal accounting federal agencies federal departments federal entity federal financial management federal government financial reporting financial statements fiscal Fund Balance Government Accountability Office government-wide grant identified incurred internal controls inventory letter of credit liabilities loan guarantees ment monitoring obligation OMB Circular operations outlays payment payroll performance period personnel procedures proprietary accounting purpose receipts received record reimbursements request responsibility revenues revolving fund Sarbanes-Oxley Act SFFAS specific Standard General Ledger tion transactions transfer voucher xxx xxx xxx
Popular passages
Page xi - ... Shipping Authority Mines, Bureau of Monetary Offices, Treasury Department Narcotics, Bureau of National Aeronautics and Space Administration Federal Procurement Regulations System National Bureau of Standards National Capital Housing Authority National Capital Transportation Agency National...
Page 121 - Nor shall any department or any officer of the Government accept voluntary service for the Government or employ personal service in excess of that authorized by law, except in cases of sudden emergency involving the loss of human life or the destruction of property.
Page 67 - ... terms and conditions equally as favorable as the terms and conditions applicable to loans under this title, and (3) that the construction will be undertaken in an economical manner and that it will not be of elaborate or extravagant design or materials.
Page 353 - ... attest to, and report on, the assessment made by the management of the issuer.
Page 14 - Funds, property, and other assets are safeguarded against waste, loss, unauthorized use, or misappropriation; and ^ Revenues and expenditures applicable to agency operations are properly recorded and accounted for to permit the preparation of accounts and reliable financial and statistical reports and to maintain accountability over the assets.
Page 73 - Amounts of orders placed, contracts awarded, services received, and similar transactions during a given period that will require payments during the same or a future period.
Page xi - Canal Commission Peace Corps Pension Benefit Guaranty Corporation Postal Rate Commission Railroad Retirement Board Securities and Exchange Commission Selective Service System Small Business Administration Social Security Administration Tennessee Valley Authority Trade and Development Agency...
Page 9 - The comptroller general shall investigate, at the seat of government or elsewhere, all matters relating to the receipt, disbursement, and application of public funds, and shall make to the President when requested by him, and to Congress at the beginning of each regular session, a report in writing of the work of the general accounting office...
Page 349 - The principal purpose of the instrument is the acquisition, by purchase, lease, or barter, of property or services for the direct benefit or use of the Federal Government; or (2) The Department determines in a specific instance that the use of a type of contract is appropriate.
Page 105 - It shall be the duty of the Secretary of the Treasury annually to lay before Congress, on the first day of the regular session thereof, an accurate combined statement of the receipts and expenditures during the last preceding fiscal year of all public moneys, including those of the Post Office Department, designating the amount of the receipts, whenever practicable, by ports, districts, and States, and the expenditures, by each separate head of appropriation.