Fiscal Leadership for Georgia

Accounting Policy Manual


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

06/30/2011

Accounting Manual Introduction

Fiscal Management Objectives

06/30/2009

06/30/2009

Management Responsibilities

06/30/2009

06/30/2011

GAAP Hierarchy & Link to GASB

06/30/2016

06/30/2016

Laws and Regulations

07/01/1999

07/01/2004

Glossary

07/01/2009

06/15/2012

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

07/01/2008

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

Inter-Organization Activity (other than GSFIC funded construction projects)

GSFIC Reimbursements for Bond Funded Construction Projects

07/01/2009

06/30/2011

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

Contractual Commitments

Employee Benefits

Compensated Absences

07/01/2010

02/28/2011

Deferred Compensation (IRC 457 Plans)

07/01/2010

02/28/2011

Pension Fund Accounting Overview

07/01/1999

07/01/2004

Pension Benefits

Not Available

 

Other Postemployment Benefits

Not Available

 

Capital Assets

Capital Assets - General

07/01/2010

06/30/2011

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

Capital Leases Overview

07/01/1999

07/01/2004

Accounting for Leases

07/01/2015

07/01/2015

Debt and Related Items

Interest Payable

07/01/1999

07/01/2004

Notes and Bonds Payable/Bond Premiums and Discounts

07/01/1999

07/01/2004

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