THE CALIFORNIA STATE UNIVERSITY
GAAP PREPARATION CHECKLIST
CHAPTER/S
DESCRIPTION
PREPARER’S
INITIALS
Part A1 – Due first day of fieldwork (August 26, 2014)
STEP 1 – BEGINNING TRIAL BALANCE VALIDATION
4-1
4-1
1. Complete prior fiscal year GAAP Ledger Close
Process.
2. Validate current fiscal year beginning trial balance
[Accounting Period "0"] equals prior fiscal year
final Statement of Net Position from your reporting
package. [San Diego only: Confirm that Beginning
Net Position tie to prior year reporting package in
GAAP Ledger.]
STEP 2 – YEAR-END CLOSING
2
3
1. Complete legal basis closing.
STEP 3 – CDIP GAAP DERIVATION
1. Process the CDIP GAAP Derivation for the current
fiscal year Accounting Periods 1 - 12 to convert
Legal Basis activity to GAAP Basis Chart Fields.
Journal Generate and Post Journals to the GAAP
Ledger Accounting Periods 1 -12. [San Diego only:
Complete mapping of Legal Basis activity to GAAP
Ledger.]
10-1 GAAP Manual | GAAP Preparation Checklist | June 30, 2014
REVIEWER’S
INITIALS
CHAPTER/S
DESCRIPTION
PREPARER’S
INITIALS
STEP 4 – GAAP ADJUSTMENTS AND RECLASSIFICATIONS
4-13
1. Net Cash Balance
4-2
2. Capital Assets, Depreciation and Amortization
4-3
3. Accounts Payable: Obligations
4-4
4. State/CSU Receivables and State Appropriations
(Pass down by CO, "Passdown Schedule", "FY
2013-2014", http://www.calstate.edu/sfsr/gaap/)
4-5
5. Fund Balance Clearing Accounts
4-6
6. Prepaid Expenses and Inventories
4-7
7. Faculty Payroll Accruals
4-8
8. Compensated Absences
4-9
9. Unearned Revenues
4-10
10. Capitalized Leases
4-11
11. Tuition Discounting
4-12
12. Pollution Remediation Obligation
4-13
13. Legal basis transfers between CSU entities
4-13
14. Other Accounting Issues
4-14
15. Revenue Management Program
4-15
16. Service Concession Arrangements
4-17
17. Deferred Inflows and Outflows of Resources (other
than those passed down by CO)
10-2 GAAP Manual | GAAP Preparation Checklist | June 30, 2014
REVIEWER’S
INITIALS
CHAPTER/S
DESCRIPTION
PREPARER’S
INITIALS
REVIEWER’S
INITIALS
STEP 5 – RECORD ALLOCATIONS FROM THE OFFICE OF THE CHANCELLOR (CO)
5-1 and
5-2
5-3 and
5-8
5-3 and
5-8
1. Construction work in progress (CWIP) / Additions
to capital assets/ Completed construction projects
(Pass down by CO through ADNOATs)
2. Bond Anticipation Notes (BAN) (Pass down by
CO, "Passdown Schedule", "FY 2013-2014",
http://www.calstate.edu/sfsr/gaap/)
3. Systemwide Revenue Bonds (SRB) (Pass down by
CO, "Passdown Schedule", "FY 2013-2014",
http://www.calstate.edu/sfsr/gaap/)
STEP 6 – PREPARE FOR THE AUDIT
9
9, 15 and
17
9
16
11
1. Complete your reporting package template in YES.
2. Prepare PBC items for your audit team using the
PBC List provided in Chapter 9, 15 and 17
(included financial statements, A-133, and IT
audits, respectively).
3. Prepare comprehensive variance analysis (to be
included as part of reporting package).
4. Complete SRB requirements: Legal fluctuation
analysis, SRB required lead sheets, and GAAP
entry query (all are explained in the Chapter 16).
5. Complete GAAP Financial Reporting Checklist
provided in Chapter 11 (Part A1 only).
Part A2 – Due on September 5, 2014
6
9
11
STEP 7 – PREPARE THE STATEMENT OF CASH FLOWS
1. Statement of Cash Flows (SCF): Use the resources
provided in Chapter 6 to prepare a direct method
SCF.
2. Prepare comprehensive variance analysis for cash
flows (to be included as part of reporting package).
3. Complete GAAP Financial Reporting Checklist
provided in Chapter 11 (Part A2 only).
10-3 GAAP Manual | GAAP Preparation Checklist | June 30, 2014
CHAPTER/S
DESCRIPTION
PREPARER’S
INITIALS
REVIEWER’S
INITIALS
STEP 8 – RECORD ALLOCATIONS FROM THE OFFICE OF THE CHANCELLOR (CO)
5-6
1. Other Postemployment Benefits Obligation (Pass
down by CO, "Passdown Schedule", "FY 20132014", http://www.calstate.edu/sfsr/gaap/)
Part B – Due September 23, 2014
STEP 9 – INCLUDE YOUR DISCRETELY PRESENTED COMPONENT UNIT’S FINANCIAL DATA
1. Obtain the audited financial statements and
management letters (summarizing significant
deficiencies or material weaknesses, if any) of your
discretely presented component units. Provide 1
8
hard copy of each discretely presented component
unit's audited financial statements and management
letter to the Office of the Chancellor.
2. Using the discretely presented component units'
supplementary information schedules included in
their audited financial statements, enter their
financial data into YES. Ensure that component
8
units are properly classified as either FASB or
GASB and that data entry was complete and
accurate.
3. Verify that an "in relation to" opinion paragraph
8
was included in the independent auditor's report.
4. Complete GAAP Financial Reporting Checklist
11
provided in Chapter 11 (Part B only).
PREPARER’S PRINTED NAME
PREPARER’S SIGNATURE
DATE
REVIEWER’S PRINTED NAME
REVIEWER’S SIGNATURE
DATE
10-4 GAAP Manual | GAAP Preparation Checklist | June 30, 2014