Wolters Kluwer's 2021 Governmental GAAP Disclosures Manual assists practitioners in the preparation of state and local governmental GAAP financial statement disclosures. The Manual should be used in conjunction with the latest edition of Wolters Kluwer’s Governmental GAAP Guide for State and Local Governments and Governmental GAAP Practice Manual. Practitioners are advised to use the same year of each volume to provide a complete, timely discussion of the topic in question. Practitioners are also cautioned to only use these disclosures as guides and align their entity’s own particular note disclosure to fit the nature of the entity’s operations.
The Manual is organized in the same order as the Governmental Accounting Standards Board’s (GASB’s) Codification of Governmental Accounting and Financial Reporting Standards (the GASB Codification Section (GASB Cod Sec) 2300, and other related sections that are germane to particular topics. The GASB Codification is most practical in organizing disclosure.
Specifically, the Manual contains over 100 examples of practical sample note disclosures to assist in the preparation of financial statements for various general governments, a small college, a state lottery that is a component unit, or a fiduciary activity engagement (statewide public employee retirement system). The Manual facilitates compliance with governmental U.S. generally accepted accounting principles (U.S. GAAP) by integrating the specific disclosure requirements with the sample notes; and incorporates all currently effective accounting standards, including those that cover areas of unusual difficulty.
The Manual is accompanied by a governmental financial statement disclosures checklist that provides a centralized resource of the required and recommended U.S. GAAP disclosures and key presentation items currently in effect.