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GAAP Flyers


 -   GAAP Flyer No. 1 - Governmental vs. Enterprise Fund Accounting Comparison between governmental (modified accrual) basis of accounting against Enterprise or full accrual method of accounting. (This flyer was prepared by Arthur Andersen & Co., LLP.) (4pgs/89k)
 -   GAAP Flyer No. 2 - Accounting for Fixed Assets Provides guidance on accounting for fixed assets and corresponding depreciation of those assests under GAAP. (This flyer was prepared by PricewaterhouseCoopers, LLP.) (13pgs/146k)
 -   GAAP Flyer No. 3 - Mixed Financing and Joint Venture Accounting Provide PHAs and their advisors guidance on the GAAP reporting requirements for mixed-financed, joint ventures and similar type transactions. (This flyer was prepared by Arthur Andersen & Co., LLP.) (11pgs/257k)
 -   GAAP Flyer No. 4 - Accounting for PHA Debt Provides description and accounting treatment of HUD-guaranteed debt (third party) and HUD-held (direct debt) under generally accepted accounting principles. (This flyer was prepared by Arthur Andersen & Co., LLP.) (9pgs/124k)

Experts Agree on the Reclassification of Debt - Experts from George Washington University agree that Public Housing Authorities should remove HUD guaranteed and direct debt instruments from their financial statements.

 -   GAAP Flyer No. 5 - GASB's New Financial Reporting Model-The GASB issued Statement No. 34 in June 1999. This standard redefines accounting and reporting requirements for state and local governments, and other special purpose governments.(Updated 12/17/01)
 -   GAAP Flyer No. 6 - Procuring an Audit: Provides practical and in-depth guidance to Public Housing Authorities trying to obtain quality audits. This flyer touches on: (1) suggested steps to follow in obtaining an audit, (2) a proposed audit procurement timeline, (3) red flags and warnings to watch out for during the procurement process and (4) auditee and auditor responsibilities.