會(huì)計(jì)paper范文：Accounting for General Long-Term Liabilities and Debt Service

本文是會(huì)計(jì)專業(yè)的paper范例，題目是“Accounting for General Long-Term Liabilities and Debt Service（一般長(zhǎng)期負(fù)債和償債的會(huì)計(jì)處理）”，這些債務(wù)的使用是國(guó)家財(cái)政政策的一部分，特別是為購(gòu)買一般資本資產(chǎn)融資。資本項(xiàng)目基金報(bào)告的經(jīng)營(yíng)性報(bào)表增加和減少可花費(fèi)的資源(Ruppel, 2015)。一般來(lái)說(shuō)，長(zhǎng)期負(fù)債是指一年以上到期的財(cái)務(wù)債務(wù)。政府一旦決定設(shè)立資本項(xiàng)目基金，就會(huì)決定需要多少資本項(xiàng)目基金。

Introduction介紹

The use of these debts is part of the fiscal policy of state, specifically for financing the acquisition of general capital assets. The operating statement of the capital projects fund reports increases and decreases in spendable resources (Ruppel, 2015). In general terms, long-term liabilities are financial obligations that become due over one year. Once a government determines to establish capital projects funds, then it decides how many capital projects fund needs.

As a governmental fund type, capital projects funds use the modified accrual basis of accounting. The acquisitions of general capital assets cannot be financed from general funds when there is considerable amount of money. Years ago governmental issues of long-term debt used to mature in total on a given date which resulted in a large “balloon” payment. Most cases, governments are permitted, but not required, to establish capital projects funds to be used for major acquisition and construction of assets.

作為一種政府基金類型，資本項(xiàng)目基金使用修改后的權(quán)責(zé)發(fā)生制會(huì)計(jì)基礎(chǔ)。一般資本資產(chǎn)的收購(gòu)，在資金數(shù)額較大的情況下，不能從一般資金中獲得資金。幾年前，政府發(fā)行的長(zhǎng)期債券通常會(huì)在給定的日期到期，導(dǎo)致大量的“氣球”付款。在大多數(shù)情況下，政府被允許(但不是必須)設(shè)立資本項(xiàng)目基金，用于重大資產(chǎn)的收購(gòu)和建設(shè)。

Long-term debt and other obligations are normally not reported in the governmental funds. In other words, capital assets accounted for in the proprietary funds (trust funds) are considered capital assets used in governmental activities. Long-lived assets used by activities financed by the general fund or other governmental funds are called general capital assets (Reck, 2016). There is a distinction between general capital assets and capital assets and that is they are associated with activities financed by fiduciary funds and by proprietary. The extent to which debt may overlap depends on the number of governments represented within an area authorized to incur long-term indebtedness (Reck, 2016).

Accounting for General Capital Assets and Capital Projects一般資本資產(chǎn)和資本項(xiàng)目的會(huì)計(jì)核算

 Long-lived assets used by activities financed by the General Fund or other governmental funds are called general capital assets (Reck, 2016). There is a distinction between general capital assets and capital assets and that is they are associated with activities financed by fiduciary funds and by proprietary. Due to the nature of governmental financial reporting and operations, capital assets are reported in the government-wide statement of net position but are not reported in the fund financial statements. On other words, capital assets accounted for in the proprietary funds (trust funds) are considered capital assets used in governmental activities.

由普通基金或其他政府基金資助的活動(dòng)使用的長(zhǎng)壽命資產(chǎn)被稱為普通資本資產(chǎn)(Reck, 2016)。一般資本資產(chǎn)和資本資產(chǎn)之間有一個(gè)區(qū)別，即它們與由信托基金和自營(yíng)基金資助的活動(dòng)有關(guān)。由于政府財(cái)務(wù)報(bào)告和運(yùn)作的性質(zhì)，資本資產(chǎn)在全政府凈頭寸表中報(bào)告，而不在基金財(cái)務(wù)報(bào)表中報(bào)告。換句話說(shuō)，占專有基金(信托基金)的資本資產(chǎn)被認(rèn)為是用于政府活動(dòng)的資本資產(chǎn)。

 The acquisitions of general capital assets cannot be financed from general funds when there is a considerable amount of money. Thus, the most common way to finance them is through the issue of long-term debt to be repaid from tax revenues, transfers from other funds, capital leases, grants from other governments, or a combination of several of these sources.

 General capital assets follow the Governmental Accounting Standards Board (GASB) reporting net of accumulated depreciation wide-level, capitalizing activities account at the government wide-level and debiting to expenditures in the appropriate governmental fund.

Governments often use the capital projects fund type to account for and report major capital acquisition and construction activities (Ruppel, 2015). If money is restricted and received from activities such as gifts from individuals or organizations, capital leases, transfers from other funds, etc, it is recommended the use of capital projects fund because are related to long-term debt and can be recorded in the governmental activities at the government-wide level.

政府經(jīng)常使用資本項(xiàng)目基金類型來(lái)核算和報(bào)告主要的資本收購(gòu)和建設(shè)活動(dòng)(Ruppel, 2015)。如果錢是限制和接收從個(gè)人或組織活動(dòng),如禮物,資本租賃,轉(zhuǎn)讓從其他基金,等,建議使用資本項(xiàng)目基金因?yàn)殚L(zhǎng)期債務(wù),可以記錄在相關(guān)政府活動(dòng)在政府層面。

As a governmental fund type, capital projects funds use the modified accrual basis of accounting. Revenues are recorded when they are become measurable and available; expenditures are recorded when the liability is incurred. Although, they are some exceptions to recognize the expenditure such as inventories, claims, prepaid items, etc.  The operating statement of the capital projects fund reports increases and decreases in spendable resources (Ruppel, 2015).

Most cases, governments are permitted, but not required, to establish capital projects funds to be used for major acquisition and construction of assets. It is possible to use one or more capital projects funds for these activities, also are used for special revenues that relate to capital projects and for capital improvements financed by special assessments. Once a government determines to establish capital projects funds, then it decides how many capital projects fund needs.

在大多數(shù)情況下，政府被允許(但不是必須)設(shè)立資本項(xiàng)目基金，用于重大資產(chǎn)的收購(gòu)和建設(shè)。可以為這些活動(dòng)使用一個(gè)或多個(gè)基本建設(shè)項(xiàng)目資金，也可以用于與基本建設(shè)項(xiàng)目有關(guān)的特別收入和由特別評(píng)估供資的基本建設(shè)改進(jìn)。政府一旦決定設(shè)立資本項(xiàng)目基金，就會(huì)決定需要多少資本項(xiàng)目基金。

Neither the capital assets acquired nor any long-term debt incurred is recorded in capital projects funds; they should be recorded in the governmental activities at the government-wide level (Reck, 2016).

Accounting for General Long-Term Liabilities and Debt Service

Long-term debt and other obligations are normally not reported in the governmental funds. They are reported as liabilities on the government-wide statement of net position or as liabilities of proprietary funds (Ruppel, 2015). The use of these debts is part of the fiscal policy of state, specifically for financing the acquisition of general capital assets. In general terms, long-term liabilities are financial obligations that become due over one year.

長(zhǎng)期債務(wù)和其他債務(wù)通常不報(bào)告在政府基金中。它們?cè)谡秶鷥?nèi)的凈頭寸聲明中被報(bào)告為負(fù)債，或作為專有基金的負(fù)債(Ruppel, 2015)。這些債務(wù)的使用是國(guó)家財(cái)政政策的一部分，特別是為購(gòu)買一般資本資產(chǎn)融資。一般來(lái)說(shuō)，長(zhǎng)期負(fù)債是指一年以上到期的財(cái)務(wù)債務(wù)。

Examples of long-term liabilities related to operating activities include pensions and other postemployment benefits, obligations related to landfills and pollution remediation, claims and judgments, compensated absences (Reck, 2016).  Reporting liabilities within the government-wide statement of internet position needs new each of the following:

The amount due in one year (current portion)

The amount due in more than one year (non-current portion)

It is common for new debt issues to schedule detailing changes through long-term liabilities disclosures. According to the GASB, need to provide detail about the beginning of the period – regardless of whether prior year data are presented on the government-wide financial statements -, additions to and reductions made them, ending liabilities, and the portion of the liabilities payable in one year.

Debt limit, known also as the debt ceiling is a limit that Congress imposes on how much debt the federal government can carry at any given time (Amadeo, 2019). When the ceiling is reached, the U.S. Treasury Department cannot issue any longer Treasury bills, bonds, or notes. It can only pay bills as it receives tax revenues. If the revenue is not enough, the Treasury Secretary should choose from paying federal worker salaries, Social Security benefits, or the interest on the debt.

Congress imposes the debt on the statutory debt ceiling. That’s the outstanding debt in U.S. Treasury notes after adjustments. The changes embrace unamortized discounts, old debt, and secure debt. There are two types of U.S. debt. The first is what the government owes to itself. Most of that is the Social Security monetary fund and federal worker retirement funds. The debt that is owed to everybody else is the public debt. It’s 70% of the total debt. The importance of raising the debt ceiling happens when the President and Congress cannot agree on fiscal policy to protect property owners from confiscation taxation.

國(guó)會(huì)將債務(wù)強(qiáng)加于法定債務(wù)上限之上。這是調(diào)整后的美國(guó)國(guó)債余額。這些變化包括未攤銷折扣、舊債務(wù)和安全債務(wù)。美國(guó)國(guó)債有兩種類型。首先是政府對(duì)自己的虧欠。其中大部分是社會(huì)保障貨幣基金和聯(lián)邦工人退休基金。欠其他所有人的債務(wù)就是公共債務(wù)。這是總債務(wù)的70%提高債務(wù)上限的重要性體現(xiàn)在總統(tǒng)和國(guó)會(huì)不能就財(cái)政政策達(dá)成一致，以保護(hù)財(cái)產(chǎn)所有者免受沒(méi)收稅收。

 Also, there is a debt margin or borrowing power, which is the difference between the amount of the debt limit and the net amount of outstanding indebtedness subject to the limitation (Reck, 2016).  All those debts authorized but not issued at the end of the fiscal year should be disclosed under debt margin due to may be sold at any time. Debt information disclosed, in terms of governmental financial statements, is monitored closely.

Each separate governmental entity affected by the laws has debt limitation laws that may not be exceeded. This means the county may incur indebtedness to the legal limit, a township may do the same within that county, and a city also may become do likewise because of debt already owed by a territory in which is located. When this situation happens it is called overlapping debt. In other words, Overlapping debt refers to the financial obligations of one political jurisdiction that also falls partly on a nearby jurisdiction (Chen, 2018). Overlapping debt is very common in most states because they are divided into many jurisdictions for different tax purposes; for instance, the project of construction for a new building or a new public school. Two government bodies may incur in overlapping jurisdictions, like a state and a city or a city and county.

受該法律影響的每個(gè)獨(dú)立政府實(shí)體都有債務(wù)限制法律，但不得超過(guò)該法律。這意味著該縣可能在法定限度內(nèi)發(fā)生債務(wù)，鄉(xiāng)鎮(zhèn)可能在該縣內(nèi)發(fā)生債務(wù)，城市也可能因其所在地區(qū)已發(fā)生債務(wù)而發(fā)生債務(wù)。當(dāng)這種情況發(fā)生時(shí)，它被稱為重疊債務(wù)。換句話說(shuō)，重疊債務(wù)指的是一個(gè)政治管轄區(qū)的財(cái)政義務(wù)也部分落在附近的管轄區(qū)(陳，2018)。債務(wù)重疊在大多數(shù)州都很常見(jiàn)，因?yàn)樗鼈円虿煌亩愂漳康亩粍澐譃樵S多管轄區(qū);例如，建設(shè)一座新建筑或一所新的公立學(xué)校的項(xiàng)目。兩個(gè)政府機(jī)構(gòu)可能會(huì)發(fā)生管轄權(quán)重疊的情況，比如一個(gè)州和一個(gè)市或一個(gè)市和一個(gè)縣。

Years ago governmental issues of long-term debt used to mature in total on a given date which resulted in a large “balloon” payment. Nowadays, bond issues are serial bond which the principal matures in installments (Reck, 2016). A serial bond is structured by a portion of the outstanding bond matures gradually at regular periods and they are used to finance projects provide income for bond repayment.

Conclusion結(jié)論

If money is restricted and received from activities such as gifts from individuals or organizations, capital leases, transfers from other funds, etc, it is recommended the use of capital projects fund because related to long-term debt and can be recorded in the governmental activities at the government-wide level.

如果錢是限制和接收從個(gè)人或組織活動(dòng),如禮物,資本租賃,轉(zhuǎn)讓從其他基金,等等,建議相關(guān)資本項(xiàng)目基金的使用,因?yàn)殚L(zhǎng)期債務(wù),可以記錄在政府活動(dòng)在政府層面。

The more common classes used to categorize capital assets by governments are: land, buildings, equipment, improvements other than buildings, construction in progress, intangible assets, infrastructure assets (Ruppel, 2015).  Neither the capital assets acquired nor any long-term debt incurred is recorded in capital projects funds, they should be recorded in the governmental activities at the government-wide level (Reck, 2016). It is possible to use one or more capital projects funds for these activities, also are used for special revenues that relate to capital projects and for capital improvements financed by special assessments. Once a government determines to establish capital projects funds, then it decides how many capital projects fund needs.

General capital assets follow the Governmental Accounting Standards Board (GASB) reporting net of accumulated depreciation wide-level, capitalizing activities account at the government wide-level and debiting to expenditures in the appropriate governmental fund.

一般資本資產(chǎn)遵循政府會(huì)計(jì)準(zhǔn)則委員會(huì)(GASB)廣泛的累計(jì)折舊凈額報(bào)告，資本化活動(dòng)賬戶在政府廣泛的水平和借記到適當(dāng)?shù)恼鸬闹С觥?/p>

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