Accounting Policy Manual

Content Under Review

The content on this page is under review. While we work to provide the latest updates, all posted policies should be considered in effect. Significant policy changes will be communicated via email.

Accounting Policy Manual Table of Contents

The Accounting Policy Manual includes high-level policies and procedures to ensure that financial activity is recorded accurately and consistently across organizations, so that government-wide financial statements will comply with authoritative Governmental Accounting Standards Board (GASB) and legislative standards. Basic guidance on accounting requirements, including journal entry examples, is included in these documents. Accounting manual topics apply to all State of Georgia accounting organizations regardless of their accounting systems.

Refer to the State Reporting Structure and Chart of Accounts page for value listings within the chart structure and guidance on using the various accounting fields. The structure page also includes account definitions at the State Chart of Accounts (SCOA) level. The SCOA applies to all organizations in the State reporting entity regardless of their accounting systems. State organizations that do not use the prescribed SCOA values must be able to provide a mapping cross-reference to their local charts for purposes of year-end statewide reporting.

CATEGORY 1 - GENERAL GUIDELINES	Effective Date	Revision Date
State of Georgia Accounting Policy Structure	06/30/2009	07/01/2022
Accounting Manual Introduction
Fiscal Management Objectives	06/30/2009	07/01/2022
Management Responsibilities	06/30/2009	07/01/2022
GAAP Hierarchy & Link to GASB	06/30/2016	07/01/2022
Laws and Regulations	07/01/1999	07/01/2022
Glossary	07/01/2009	07/01/2022

CATEGORY 2 -FINANCIAL REPORTING	Effective Date	Revision Date
Materiality	07/01/2009	06/30/2011
Basis of Accounting and Reporting
Overview	06/30/2009	06/30/2011
Legal Level of Budgetary Control	Not Available	Not Available
Elements of Financial Statements	07/01/2015	07/01/2015
Chart of Accounts (COA)
Structure Overview	07/01/2009	04/30/2010
Fund Source Identifiers	07/01/1999	07/01/2004
Control/Clearing Accounts - Balancing Requirements	06/30/2012	03/01/2016

CATEGORY 3 - CLOSING PROCEDURES	Effective Date	Revision Date
Monthly Reporting and Analysis Checklist	Not Available
Fiscal Year-End Cutoff and Analysis Checklist	Not Available
Documentation Requirements	05/31/2011	05/31/2011

CATEGORY 4 - FINANCIAL ACCOUNTING AND REPORTING POLICIES & PROCEDURES	Effective Date	Revision Date

Inflows of Resources
Revenues & Receivables Unearned Revenues and Unavailable Revenues - General	07/01/2015	06/22/2017
Uncollectible Accounts and Write-Offs	07/01/2011	07/01/2011
Other Financing Sources	07/01/1999	07/01/2004
Prior Year Carry-Over (Accounting)	07/01/2008	07/01/2017
Revenues - Grants and Other Financial Assistance Policy	03/25/2016	03/25/2016
Outflows of Resources
Accounting for Vendor Adjustment Credits	06/30/2013	04/05/2013
Payments to Board Members	07/01/1999	07/01/2004
Other Financing Uses	07/01/1999	07/01/2004
Expenditures/Expenses, Prepaid Items, Payables and Deferred Outflows – General	06/22/2017	06/22/2017
Assets and Deferred Outflows of Resources
Cash, Cash Equivalents and Investments	07/01/1999	07/01/2004
Inventories	07/01/1999	07/01/2004
Prepaid Assets and Deferred Charges	07/01/1999	07/01/2004
Deposits and Investments	Not Available
Liabilities and Deferred Inflows of Resources
Claims, Judgments, and Accounting for Contingencies	07/01/2015	07/01/2015
Pollution Remediation Obligations	06/30/2009	06/30/2009
Employee Benefits
Compensated Absences	07/01/2010	02/28/2011
Deferred Compensation (IRC 457 Plans)	07/01/2010	02/28/2011
Pension Benefits	Not Available
Other Postemployment Benefits	Not Available
Capital Assets
Capital Assets - General	07/01/2010	08/12/2022
Construction in Progress	07/01/2011	06/30/2011
Asset Transfers and Other Disposals	07/01/2010	06/30/2011
Impairments	07/01/2010	06/30/2011
Intangibles - General	07/01/2009	06/30/2011
Internally Generated Computer Software	07/01/2009	06/30/2011
Leases and Subscription Based Information Technology Agreements
Lease - Lessee and Lessor Accounting	07/01/2021	06/30/2023
Subscription Based Information Technology Agreements (SBITAs)	07/01/2021	06/30/2023
Debt and Related Items
Interest, Notes, Bonds Payable/Bond Premiums and Discounts	07/01/1999	09/16/2019
Derivative Instruments	07/01/2009	04/11/2012
Equity
Equity Policy	03/25/2016	03/25/2016
Special Accounting Transactions
Accounting Changes	Not Available
Prior Period Adjustments	Not Available
Extraordinary and Special Items	Not Available
Subsequent Events	Not Available
Tax Abatements	July 1, 2016	July 1, 2021

Accounting Policy Manual

CATEGORY 1 - GENERAL GUIDELINES

Effective Date

Revision Date

CATEGORY 2 -FINANCIAL REPORTING

Effective Date

Revision Date

CATEGORY 3 - CLOSING PROCEDURES

Effective Date

Revision Date

CATEGORY 4 - FINANCIAL ACCOUNTING AND REPORTING POLICIES & PROCEDURES

Effective Date

Revision Date

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