Other Manual Highlights and
Reminders
Sheralin Klinthong and Evajoy Tito, SFSR
Chancellor’s Office
Year-End GAAP Training
April 18, 2014
GAAP Manual
 Where to find the GAAP Manual?
- Available in the SFSR website
http://www.calstate.edu/SFSR/Workshops/index.shtml
GAAP drop down menu
April 2014
Year-End GAAP Training
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1. Change in
“header”
GAAP Manual Highlights
• New Look – similar to the new Legal Manual
OLD LOOK
NEW LOOK
2. No longer called
“Section”. Now,
called “Chapter”.
April 2014
Year-End GAAP Training
3
GAAP Manual Highlights (cont.)
• New Look – similar to the new Legal Manual
NEW LOOK
OLD LOOK
3. Change
in “footer”
April 2014
Year-End GAAP Training
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GAAP Manual Highlights (cont.)
• Revision Control – replaced the “Major Changes”
document
April 2014
Year-End GAAP Training
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GAAP Manual Highlights (cont.)
Chapter 3
Legal Basis to GAAP
Reporting
Chapter 6
Statement of Cash Flows
Chapter 7
GASB Standards
Implementation Tools
April 2014
• Removed Matrix 2.2 “SNP by CSU Fund”
• Removed Matrix 3.2 “SRECNP by CSU Fund”
• Merged and automated the above matrices
effective 7/1/14 as GAAP Edits Table
• Added more guidelines for SCF preparation
• New and improved SCF worksheet template
• Repository of all implementation tools i.e.
questionnaire, literature, FAQs, charts, etc.
• Includes GASB 49, 60 and 61
Year-End GAAP Training
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GAAP Manual Highlights (cont.)
Chapter 9
Preparing for Financial
Statement Audit
Chapter 10
GAAP Preparation Checklist
Chapter 11
GAAP Financial
Reporting Checklist
April 2014
• Changes in PBC exhibits
• Updated PBC list
• New TM1 FAQ’s
• Added new items on the checklist (download
the latest checklist)
• Added new items on the checklist (download
the latest checklist)
• GAAP Data Integrity Form
Year-End GAAP Training
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GAAP Manual Highlights (cont.)
Chapter 12
NCAA Financial
Reporting Requirements
Chapter 14
Technical Updates
Chapter 15
Preparing for A-133 Audit
April 2014
• NCAA Requirement
• Annual deliverables to SFSR
• Reporting to the BOT
• Changes every year for new technical
guidance
• New discussion on reporting of findings by
KPMG
• Changes to Federal Grant Policies and
Single Audits (Uniform Guidance)
Year-End GAAP Training
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Statement of Cash Flows (Chapter 6)
Current Year Improvements
More
Easily
account for
CF activities
More
examples of
non-cash
transactions
April 2014
Achieve
consistency
in SCF
preparation
Added the
relevant
GASB CIG
for
reference
Year-End GAAP Training
Guidelines
on SCF line
items
9
Statement of Cash Flows (cont.)
• Added relevant GASB implementation Guide
Q&A in relevant sections
April 2014
Year-End GAAP Training
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Statement of Cash Flows (cont.)
• Provided more common non-cash transaction
examples
April 2014
Year-End GAAP Training
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Statement of Cash Flows (cont.)
Increase (decrease)
in the account
Increase (decrease)
in cash
April 2014
Year-End GAAP Training
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Statement of Cash Flows (cont.)
April 2014
Year-End GAAP Training
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Statement of Cash Flows (cont.)
• Example 1: During the year, the campus had the
following transactions:
• Purchased capital assets of $250,000, of which
$80,000 is unpaid at fiscal year-end
• A capital asset was donated amounting to
$350,000
• Depreciation for the year is $75,000
• Sold capital assets amounting to $50,000
April 2014
Year-End GAAP Training
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Statement of Cash Flows (cont.)
April 2014
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Statement of Cash Flows (cont.)
• Example 2:
Advance
Refunding
April 2014
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Statement of Cash Flows (cont.)
April 2014
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Statement of Cash Flows (cont.)
• REMINDERS:
• No decimals
• Use the template as guide. Update as necessary.
• Analyze accounts that typically have noncash transactions
(e.g. capital assets, other assets, deferred outflows of
resources)
• Disregard current and long-term portion of account
balances
• “Transfer to Escrow Agent” amount in the SCF will be
provided to the campus rather than CO entering directly in
TM1
April 2014
Year-End GAAP Training
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GAAP Reminders
• Error in PBC # 2 Campus/Legal/GAAP Ledger
Comparison
 Report picked up Asset Management (AM) entries.
Did not change AM periods from 1-12 to 901-912
during the AM journal generate process in xxGAP.
• Auditor Qualification Questionnaire – due on
April 30th
April 2014
Year-End GAAP Training
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GAAP Reminders (cont.)
• Reconcile SNP and SRECNP – TM1 vs. GAAP
ledger
• Any adjustment made on TM1 should be booked
in GAAP ledger as well.
• Properly classify investments in “Footnote 2.1
Auxiliary Note” in TM1. Revisit investments classified
as “Others” and reclassify them if necessary.
April 2014
Year-End GAAP Training
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GAAP Reminders (cont.)
• PBC SharePoint Site
• All documents should be “checked-in”.
Look for this icon.
April 2014
Year-End GAAP Training
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GAAP Reminders (cont.)
“Right click”
• To check in documents:
“Click”
April 2014
Year-End GAAP Training
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Thank you
Sheralin Klinthong
Associate Director
Financial Reporting & Review
(Tel) 562-951-4548
(Email) sklinthong@calstate.edu
April 2014
Year-End GAAP Training
Evajoy Tito
Manager
Financial Reporting
(Tel) 562-951-4531
(Email) etito@calstate.edu
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April 2014
Year-End GAAP Training
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