governmentaccountingChapter14D课程.pptVIP

Notes on GLTL Adjustments All bond-related items – OFS, OFU, and expenditures – are not expenses and must be eliminated Interest must be adjusted for amortizing premiums, discounts, bond issue costs, deferred charges resulting from refundings, and accrual adjustment for interest accrued but not previously recognized since it wasn’t due Adjust for changes in GLTL items – claims judgments and compensated absences – not previously recognized as expenditures #4 #5 Other Adjustments [Page 578] #4 Revenue recognition Change in Net Assets Revenues – Taxes #5 Transfers OFS – Transfer from GF OFS –