This book provides a thorough basis for understanding the entire governmental accounting and reporting framework for all funds and account groups. All content is up-to-date, with the latest GASB standards, the latest FASB and AICPA guidance on accounting and reporting for not-for-profit organizations, and the latest changes in federal government accounting and reporting. This incredibly comprehensive yet readable book starts with an overview of governmental and nonprofit accounting basics, and is then divided into 3 sections: state and local government accounting and reporting; federal and not-for-profit organization accounting and reporting; and public sector auditing. The recent principle standard, GASB Statement 34, is discussed and applied throughout. For governmental accountants, nonprofit group accountants, and accountants in not-for-profit organizations.