Assessment 5 instructions: government accounting


Complete two exercises in government accounting.


Just as for-profit businesses must prepare financial statements for their stakeholders, state and local government entities must also assemble their financial data and report the results to their constituents. Readers of government financial statements have a wide variety of information needs; no single set of statements is able to meet the needs of all of the users. Accountability of government officials and control over public spending have always been essential elements of government accounting. The Governmental Accounting Standards Board (GASB) is the authority that is charged with setting accounting standards for state and local government entities.

In addition to the issues you examined in the previous assessment, there remain a number of other asset issues to deal with when governmental accounting procedures are involved. The first such issue involves obtaining assets through leasing arrangements. Government accounting applies the same criteria for identifying a capital lease as a for-profit organization.

These are some examples of governmental accounting situations:

  • Solid waste landfills creating large potential debts for a government due to costs related to closure and postclosure.
  • Future compensated employee absences due to holidays, sick leave, and vacations.
  • A state or local government obtaining a work of art or historical treasure


The following resources are required to complete the assessment.

Complete the problems in the Assessment 5 Problems document using the related template, both of which are linked in the Required Resources for this assessment. All financial information and applicable instructions are provided.

In these problems you will:

  • Record basic journal entries for fund-based and government-wide financial statements.
  • Differentiate between encumbrances and expenditures.
  • Differentiate between government activities and business-type activities.
  • Determine the consequences of certain transactions for state and local governments.

Competencies Measured

By successfully completing this assessment, you will demonstrate your proficiency in the course competencies through the following assessment scoring guide criteria:

  • Competency 4: Analyze accounting issues related to government.
    • Record basic journal entries for fund financial statements.
    • Record basic journal entries for government-wide financial statements.
    • Differentiate between encumbrances and expenditures.
    • Differentiate between government activities and business-type activities.
    • Determine the consequences of certain transactions for state and local governments.
  • Competency 5: Communicate in a manner that is professional and consistent with expectations for professionals in the field of accounting.
    • Communicate results from accounting calculations accurately and clearly.
Calculate your paper price
Pages (550 words)
Approximate price: -

Why Choose Us

Quality Papers

We value our clients. For this reason, we ensure that each paper is written carefully as per the instructions provided by the client. Our editing team also checks all the papers to ensure that they have been completed as per the expectations.

Professional Academic Writers

Over the years, our Acme Homework has managed to secure the most qualified, reliable and experienced team of writers. The company has also ensured continued training and development of the team members to ensure that it keep up with the rising Academic Trends.

Affordable Prices

Our prices are fairly priced in such a way that ensures affordability. Additionally, you can get a free price quotation by clicking on the "Place Order" button.

On-Time delivery

We pay strict attention on deadlines. For this reason, we ensure that all papers are submitted earlier, even before the deadline indicated by the customer. For this reason, the client can go through the work and review everything.

100% Originality

At Essay USA, all papers are plagiarism-free as they are written from scratch. We have taken strict measures to ensure that there is no similarity on all papers and that citations are included as per the standards set.

Customer Support 24/7

Our support team is readily available to provide any guidance/help on our platform at any time of the day/night. Feel free to contact us via the Chat window or support email:

Try it now!

Calculate the price of your order

We'll send you the first draft for approval by at
Total price:

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

Essay USA has stood as the world’s leading custom essay writing services providers. Once you enter all the details in the order form under the place order button, the rest is up to us.


Essay Writing Services

At Essay USA, we prioritize on all aspects that bring about a good grade such as impeccable grammar, proper structure, zero-plagiarism and conformance to guidelines. Our experienced team of writers will help you completed your essays and other assignments.


Admission and Business Papers

Be assured that you’ll definitely get accepted to the Master’s level program at any university once you enter all the details in the order form. We won’t leave you here; we will also help you secure a good position in your aspired workplace by creating an outstanding resume or portfolio once you place an order.


Editing and Proofreading

Our skilled editing and writing team will help you restructure you paper, paraphrase, correct grammar and replace plagiarized sections on your paper just on time. The service is geared toward eliminating any mistakes and rather enhancing better quality.


Technical papers

We have writers in almost all fields including the most technical fields. You don’t have to worry about the complexity of your paper. Simply enter as much details as possible in the place order section.