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 (sao.georgia.gov > Reporting > Reporting Structure and Chart of Accounts) 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.
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CATEGORY/Section/Sub-Section
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Effective Date
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Revision Date
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CATEGORY 1 - GENERAL GUIDELINES
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| State of Georgia Accounting Policy Structure |
06/30/2009
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06/30/2011
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| Accounting Manual Introduction | ||
| Fiscal Management Objectives |
06/30/2009
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06/30/2009
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| Management Responsibilities |
06/30/2009
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06/30/2011
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| GAAP Hierarchy & Link to GASB |
06/30/2009
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06/30/2011
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| Laws and Regulations |
07/01/1999
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07/01/2004
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| Glossary |
07/01/2009
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06/15/2012
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CATEGORY 2 -FINANCIAL REPORTING
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| Materiality |
07/01/2009
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06/30/2011
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| Basis of Accounting and Reporting | ||
| Overview |
06/30/2009
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06/30/2011
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Legal Level of Budgetary Control
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Not Available | |
| Chart of Accounts (COA) | ||
| Structure Overview |
07/01/2009
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04/30/2010
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| Fund Source Identifiers |
07/01/1999
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07/01/2004
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| Control/Clearing Accounts - Balancing Requirements |
06/30/2012
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04/30/2012
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CATEGORY 3 - CLOSING PROCEDURES
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| Monthly Reporting and Analysis Checklist | Not Available | |
| Fiscal Year-End Cutoff and Analysis Checklist | Not Available | |
| Documentation Requirements |
05/31/2011
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05/31/2011
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CATEGORY 4 - FINANCIAL ACCOUNTING AND REPORTING POLICIES & PROCEDURES
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Revenues & Receivables
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| General | Not Available | |
| Uncollectible Accounts and Write-Offs |
07/01/2011
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07/01/2011
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| Deferred Revenue |
07/01/1999
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07/01/2004
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| Nonoperating Revenues |
07/01/1999
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07/01/2004
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| Other Financing Sources |
07/01/1999
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07/01/2004
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| State Appropriations, Governor's Emergency Funds and Other State Funds |
07/01/1999
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07/01/2004
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| Prior Year Carry-Over (Accounting) |
07/01/2008
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07/01/2008
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| Tax Revenue |
07/01/1999
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07/01/2004
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| Expenditures, Payables & Encumbrances | ||
| General | Not Available |
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| Accounting for Vendor Adjustment Credits | 06/30/2013 | 04/05/2013 |
| Accounts Payable, Intergovernmental Payables, Contracts Payable Payroll/Withholdings Payable, and Benefits Payable |
07/01/1999
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07/01/2004
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| Expenditures and Operating Expenses |
07/01/1999
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07/01/2004
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| Nonoperating Expenses |
07/01/1999
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07/01/2004
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| Payments to Board Members |
07/01/1999
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07/01/2004
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| Other Financing Uses |
07/01/1999
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07/01/2004
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| Inter-Organization Activity (other than GSFIC funded construction projects) | Not Available | |
| GSFIC Reimbursements for Bond Funded Construction Projects |
07/01/2009
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06/30/2011
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| Grants and Other Financial Assistance | ||
| Overview |
07/01/1999
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07/01/2004
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| General Guidelines |
07/01/1999
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07/01/2004
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Current Assets
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| Cash and Equivalents |
07/01/1999
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07/01/2004
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| Inventories |
07/01/1999
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07/01/2004
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| Prepaid Assets and Deferred Charges |
07/01/1999
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07/01/2004
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Deposits and Investments
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Not Available | |
| Claims & Judgments |
07/01/1999
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07/01/2004
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Contingencies
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Not Available | |
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Contractual Commitments
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Not Available | |
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Employee Benefits
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| Compensated Absences |
07/01/2010
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02/28/2011
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| Deferred Compensation (IRC 457 Plans) |
07/01/2010
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02/28/2011
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| Pension Fund Accounting Overview |
07/01/1999
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07/01/2004
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| Pension Benefits | Not Available | |
| Other Postemployment Benefits | Not Available | |
| Capital Assets | ||
| Capital Assets - General |
07/01/2010
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06/30/2011
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| Construction in Progress |
07/01/2011
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06/30/2011
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| Asset Transfers and Other Disposals |
07/01/2010
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06/30/2011
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| Impairments |
07/01/2010
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06/30/2011
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| Intangibles - General |
07/01/2009
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06/30/2011
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| Internally Generated Computer Software |
07/01/2009
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06/30/2011
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| Leases | ||
| Capital Leases Overview |
07/01/1999
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07/01/2004
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| Accounting for Leases | Not Available | |
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06/30/2009
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06/30/2011
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| Debt and Related Items | ||
| Interest Payable |
07/01/1999
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07/01/2004
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| Notes and Bonds Payable/Bond Premiums and Discounts |
07/01/1999
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07/01/2004
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| Derivative Instruments |
07/01/2009
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04/11/2012
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| Equity | ||
| Net Assets |
07/01/1999
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07/01/2004
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| Reserved Fund Balances |
07/01/1999
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07/01/2004
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| Unreserved Fund Balances |
07/01/1999
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07/01/2004
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| Special Accounting Transactions | ||
| Accounting Changes | Not Available | |
| Prior Period Adjustments | Not Available | |
| Extraordinary and Special Items | Not Available | |
| Subsequent Events | Not Available | |