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Government and Not-for-Profit Accounting: Concepts and Practices, 8th Edition

Government and Not-for-Profit Accounting: Concepts and Practices, 8th Edition

Michael H. Granof, Saleha B. Khumawala

ISBN: 978-1-119-49581-9

Nov 2018

828 pages


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Government and Not-for-Profit Accounting highlights the dynamic nature and constant evolution of the field and the intellectual challenges it presents.  Designed to assist both preparers and potential users of financial reports, this book emphasizes concepts over rules and regulations to help students think critically and consider the effectiveness of alternate methodologies. Real-world examples demonstrate the similarities and differences between the public and private sectors—and how each might approach the same issue—and complete coverage of relevant reporting standards and practices aligns with the latest GASB, FASB, and AICPA changes. 

A central goal of this text is to make students aware of the reasons behind the guidelines and standards, and consider their strengths, limitations, applications, and alternatives. Much more than simply an invaluable preparation resource for the CPA and CGFM exams, this book lays the intellectual foundation that allows the students of today to become the leaders of tomorrow: the members of the standard‐setting boards, partners of CPA firms, government and not‐for‐profit executives, legislative and governing board members, and more.

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  • Complete, accurate, and up-to-date coverage of all authoritative pronouncements issued by the Governmental Accounting Standards Board (GASB)
  • Revised to reflect the latest applicable Financial Accounting Standards Board (FASB) updates
  • Fully aligned with current AICPA Audit and Accounting Guide, as well as Office of Management and Budget (OMB) and Government Accountability Office (GAO) publications
  • Expanded discussion highlights potentially significant changes to guidelines and standards not yet officially issued
  • Updated problems, exercises and question throughout
  • Provides insight on real-world methods through challenging practice sets that require students to justify their approach and consider alternatives
  • Features an overarching Continuing Problem that requires students to review comprehensive financial reports and answer questions as they pertain to state and local accounting principles
  • Builds critical thinking skills by asking students to analyze and interpret financial statements of actual not-for-profit and government entities
  • Provides comprehensive coverage and relevant exercises, practice questions, and reviews to help students prepare for the CPA exam and the Certified Government Financial Manager (CGFM) exam