Accounting Policy Manual (Revised)
Accounting Policy Manual Table of Contents (Under Development)
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, are included in these documents. Accounting manual topics apply to all State of Georgia accounting organizations, regardless of their accounting systems.
CATEGORY 1 - GENERAL GUIDELINES Back to Top
| Section/Sub-section | Effective Date | ||
| State of Georgia Accounting Policy Structure | |||
| Accounting Manual Introduction | |||
| Fiscal Management Objective | |||
| Management Responsibilities | |||
| GAAP Hierarchy & link to GASB | |||
| Glossary | |||
CATEGORY 2 - FINANCIAL REPORTING Back to Top
| Section/Sub-section | Effective Date | |
| Materiality | ||
| Basis of Accounting and Reporting | ||
| Common Chart of Accounts (CCOA) | ||
|
Structure Overview |
||
|
Chartfield Structure |
||
|
Funding Source Governance |
||
|
Programs (defined by legislation) |
||
|
Links to Chartfields: |
||
|
Business Units |
||
|
Funds |
||
|
Funding Sources |
||
|
Accounts with Definitions |
||
| Consolidated Trial Balance (CTB) | ||
|
CCOA/CTB Mapping Table |
||
CATEGORY 3 - CLOSING PROCEDURES Back to Top
| Section/Sub-section | Effective Date | ||
| Monthly Reporting and Analysis | |||
| Fiscal Year-End Cutoff and Analysis Checklist | |||
|
Review Restricted vs. Unrestricted Net Assets |
|||
|
Review Reserved vs. Unreserved Fund Balances |
|||
|
Cash Cutoff |
|||
|
Revenue & Expense Accruals |
|||
|
Post-Closing Entries |
|||
|
Prior Period Adjustments |
|||
|
Inter-organization activity |
|||
|
Statistical Information Requirements |
|||
|
Year-End Closing Package |
|||
| Documentation Requirements | |||
CATEGORY 4 - POLICIES/PROCEDURES Back to Top
| Section/Sub-section | Effective Date | |||
| Revenues & Receivables | ||||
|
State Fund Sources, Appropriations & Adjustments |
||||
|
Federal Fund Sources |
||||
|
Other Funds Sources |
||||
|
Other Fund Revenue Issues: |
||||
|
Inter-Organization Transactions |
||||
|
Deferred Revenues |
||||
|
Returned Check (NSF) and reimbursements |
||||
|
Uncollectible Accounts |
||||
|
AR Adjustments/write-offs |
||||
| Expenditures, Payables & Encumbrances | ||||
|
Encumbrance accounting Overview |
||||
|
Operating Expenditures |
||||
|
Non-Operating Expenditures |
||||
| Other Expenditure Issues: | ||||
|
Inter-Organization Transactions |
||||
|
Payments to Board Members |
||||
|
Returns |
||||
|
Vendor Refunds/Adjustments(1099 Implications) |
||||
|
Vendor Discounts |
||||
|
Inter-organization Activity (other than GSFIC funded construction projects) |
||||
|
Identifying Inter-organization transactions |
||||
|
Services |
||||
|
Reimbursements |
||||
|
Transfers |
||||
|
Advances |
||||
|
Recording Inter-organization transactions |
||||
| Federal Funds Accounting | ||||
|
Operating Grants |
||||
|
Capital Grants |
||||
| Cash and Equivalents | ||||
| Current Assets | ||||
|
Inventories |
||||
|
Prepaid Assets and Deferred Charges |
||||
|
Deposits and Investments |
||||
| Claims & Judgments | ||||
| Contingencies | ||||
| Contractual Commitments | ||||
| Employee Benefits | ||||
|
Compensated Absences |
||||
|
Deferred Compensation |
||||
|
Pension Benefits |
||||
|
Other Postemployment Benefits |
||||
| Capital Assets | ||||
|
Capital Assets - General |
||||
|
Construction in progress |
||||
|
Asset Transfers |
||||
|
Dispositions |
||||
|
Impairments |
||||
|
Intangibles - General |
||||
|
Internally Generated Computer Software |
||||
| Leases | ||||
|
Capital Leases |
||||
|
Operating Leases |
||||
| Landfill Closures | ||||
| Pollution Remediation Obligations | ||||
| Debt and Interest | ||||
|
Notes and Bonds Payable |
||||
|
Premiums and Discounts |
||||
| Derivative Securities and Liabilities | ||||
| Equity | ||||
|
Net Assets |
||||
|
Fund Balances |
||||
|
Carryover of Fund Balances |
||||
| Special Accounting Transactions | ||||
|
Accounting Changes |
||||
|
Prior Period Adjustments |
||||
|
Extraordinary Items |
||||
|
Subsequent Events |
||||
| Internal Controls | ||||
|
Overview |
||||
|
Control Environment |
||||
|
Risk Assessment |
||||
|
Control Activities |
||||
|
Information & Communication |
||||
|
Monitoring |
||||
|
Conclusion |
||||
|
Management's Responsibilities |
||||