美国CPA《财务会计与报告》知识点：递延的流入和流出的资源

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　　A deferred outflow of resources is a consumption of net assets that is applicable to a future reporting period.

　　Deferred outflows of resources have a positive effect on net position and are reported following assets but before liabilities.

　　A deferred inflow of resources is an acquisition of net assets that is applicable to a future reporting period.

　　Deferred inflow of resources have a negative effect on net position and are reported following liabilities but before equity.

　　Presentation of statements of financial position

　　Governmental fund balance：（Assets+Deferred outflows of resources=Liabilities+Deferred inflows of resources+Fund Balance

　　Government-wide /proprietary fund/Fiduciary fund：（Assets+Deferred outflows of resources）-（Liabilities+Deferred inflows of resources）=Net Position

　　Types of transactions classified as deferred outflows of resources and deferred inflows of resources（4 types）

　　A.Service Concession Arrangements（SCA）政府资产的发包经营

　　Upfront or installment payments are displayed as an asset at their present value along with a deferred inflow of resources

　　Deferred inflows should be recognized in a systematic and rational manner

　　SCA的会计处理

　　Show the managed facility as a capital asset

　　Displays a liability for significant contractual obligation

　　Upfront or installment payments are displayed as an asset at their present value along with a deferred inflow of resources

　　Deferred inflows should be recognized in a systematic and rational manner

　　B.Derivative instruments and hedge accounting

　　Derivatives are reported at fair value

　　Changes in value of derivatives used as investments are displayed within the investment revenue classification

　　Changes in value of derivatives used for hedging activities are reported as either deferred outflows or deferred inflows of resources.

　　C.Other deferred outflows / inflows of resources（GASB 65）

　　Imposed Nonexchange revenue transactions

　　Refunding of Debt

　　Sales and intra-entity transfers of future revenue

　　Sale and leaseback

　　Assets associated with unavailable revenue

　　Others

　　D.Accounting and financial reporting for pensions

　　Pension liability change is caused by pension cost（SIR AGE）

　　“SIR” expensed

　　“AGE”，deferred outflows and deferred inflows

　　FAR F8-4 Governmental Funds

　　“DRIP CEG，PIPpA”

　　The general fund is created at the beginning of the governmental unit，and it exists throughout the life of that unit.

　　The general fund accounts for the general activities of a government that are not accounted for by any other fund.

　　Revenue sources=Taxes+Fees & Fines+intergovernmental+Charges for services+Other revenues.

　　Expenditure types=General government+Public safety+Culture and recreation

　　Adopt modified accrual and budgetary accounting

　　General fund unique accounting issues

　　Modified accrual and budgetary accounting

　　Only one general fund

　　Must be major fund

　　Only exist current asset & current liability

　　No fixed assets & no Long-term debt

　　F/S–Required Supplementary Information （RSI）–Budgetary Comparison Schedule

　　“DRIP CEG，PIPpA”

　　Special revenue funds account for revenues and expenditures that are legally restricted or committed for specific purposes other than debt service or capital projects.

　　E.g.Special fees（to operate school programs）中国的教育附加费

　　Revenue sources=Intergovernmental revenue+Fees

　　Expenditure types=character expenditures（特定目的支出）+Functional expenditures（功能性支出）

　　Special revenue fund unique accounting issues

　　Expendable trust activity should be accounted for in a special revenue fund.

　　Expendable trust activities represent funding whose principal and income may be expended in the course of their designated operations so that they are depleted by the end of their designated lives.

　　Special revenue fund unique accounting issues

　　When a grant is received and the recipient government monitoring it，it is special revenue fund.

　　When a grant is received and the recipient government not-monitoring it，it is agency trust fund.

　　“DRIP CEG，PIPpA”

　　The debt service fund is created to account for the accumulation of resources and the payment of currently due interest and principal on “long-term general obligation debt” by setting aside cash and cash equivalents.

　　The debt service fund ONLY pays off the debt of governmental funds.

　　The debt service fund‘s resources for new debt are frequently derived from allocated portions of property taxes，transfers from other funds，and investment interest

　　Expenditure=Legally due interest+legally due principle

　　Principal and interest expenditures should be recorded when they are legally payable per the bond agreement.

　　There is no accrual of interest expenditures or interest payable.

　　No allocation between interest and principal；both are expenditures

　　There is no amortization of a premium or a discount.

　　Premiums and discounts are treated as a component of bond proceeds.

　　Debt service fund are required only when legally mandated.

　　The operations of debt service fund are similar to a commercial accounting“sinking fund”

　　“DRIP CEG，PIPpA”

　　Capital projects funds are established for the construction or purchase or leasing of significant fixed assets.

　　The life of the capital projects fund is short and is limited to a construction period of 1 to 3 years.

　　Revenues=investment earning+tax revenues+capital grants+general fund transfers+special assessments+bond issue proceeds

　　Capital grants received in advance are often recorded as a liability and displayed as earned as they are expended.

　　Government grants may be restricted and are reported as “revenue” when earned，or may be unrestricted and recognized immediately.

　　Special assessments are defined as taxes or fees levied against property owners who will directly benefit from the project（e.g.sidewalks and street lights）

　　Capital project fund expenditures are usually entirely classified as capital outlay，one of the major character classifications.

　　“DRIP CEG，PIPpA”

　　Permanent funds should be used to report resources that are legally restricted to the extent that only earnings and not principal，may be used for the purposes that support the reporting government‘s programs.

　　In government funds，only Debt service fund and Permanent funds do NOT record encumbrances.

　　FAR F8-5 Proprietary Funds

　　“DRIP CEG，PIPpA”

　　Internal service funds are established to finance and account for services and supplies provided exclusively to other departments within a government unit or to other governmental units，typically on a cost-reimbursement basis.

　　E.g.central garages and motor，central printing and duplicating services

　　Revenue sources=restricted grant revenue+operating revenues+non-operating revenues.

　　Expense types=operating expenses + non-operating expenses

　　Unique accounting issues of internal service fund

　　Adopt accrual accounting. Recording long-term liabilities，fixed assets，and depreciaiton.

　　No budgetary accounts and encumbrances

　　Net position=Net investment in capital assets+Restricted+Unrestricted（RUN）

　　“DRIP CEG，PIPpA”

　　Enterprise funds are used to account for operations that are financed and operated in a manner similar to private business enterprise.

　　E.g.Public utilities，public transportations systems，lotteries etc.

　　Revenue sources=operating revenues+nonoperating revenues

　　Expense types=operating expenses+nonoperating expenses

　　Unique accounting issues of enterprise fund

　　Accrual accounting

　　Recording long-term liabilities and fixed assets

　　Depreciation

　　Net position=net investment in capital assets+restricted+unrestricted（RUN）

　　Cash flow statement of proprietary funds

　　There are four parts（F8-68）

　　Cash flows from operating activities

　　Cash flows from NONCAPITAL financing activities

　　Cash flows from CAPITAL and related financing activities

　　Cash flows from investing activities

　　F8-6 Fiduciary Funds

　　“DRIP CEG，PIPpA”

　　All fiduciary funds，adopt full accrual method.

　　All fiduciary funds，no cash flow required.

　　All proprietary funds，cash flow statement is required.

　　Pension trust funds account for government sponsored defined benefit and defined contribution plans and other employee benefits such as post retirement health care benefits.

　　Revenue sources = employer & employee contributions+other fund transferring money to this fund+Income from investment

　　Expense（Deduction）types=benefits payments+refunds+administrative expenses

　　Unique accounting issue of pension fund

　　Pension trust funds use the accrual basis of accounting.

　　Pension liability change is caused by pension cost（SIR AGE）

　　“SIR” expensed

　　“AGE”，deferred outflows and deferred inflows

　　Pension trusts capitalize fixed assets and record related depreciation expense.

　　Pension trusts carry long-term debt and pay both principal and interest.

　　Net position reported in a single line as “Net position：Held in trust for pension benefits and other purposes”

　　On F/S of pension funds，the pension plan‘s investment are reported on a fair value basis.

　　Agency trust fund collects cash to be held temporarily for an authorized recipient to whom it will be later disbursed.

　　The recipient may be another fund or some individual or firm or even government outside of the government.

　　For agency trust，NO income statement and NO cash flows.

　　E.g.Tax collection funds.

　　No revenue and No expense are recognized in agency funds.

　　Tax collection funds exist when one local government collects a tax for an overlapping governmental unit and remits the amount collected，less administrative charges， to the recipient unit.

　　Clearance funds–cash conduit arrangement（no monitoring）。Such as Alimony，child support，pass-through grants.

　　Special assessments. When the governmental unit “is NOT otherwise obligated” for the debt，the receivables and debt service transaction are appropriately accounted for in the agency fund. If the governmental unit has liability，accounted as capital fund and debt service fund.

　　F/S of agency fund

　　No “Net position”

　　No Income statement

　　No cash flow statement

　　“DRIP CEG，PIPpA”

　　Private purpose trust fund is the designated fund for reporting all other trust arrangements under which principal and income are for the benefit of one of the specific individuals，private organizations，other governments.

　　“DRIP CEG，PIPpA”

　　Investment trust fund account for external investment pools.

　　Adopt full accrual basis

　　The plan‘s net assets（investments）are reported on a fair value basis

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