Annual GAAP Financial Issues at a Church 5700-07 ZZchu

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                            FROM: Jim Bramer, Retired CPA-Auditor                                                                  FILE:   5700-07/Chu
                                                                                               

                              RE: Church Annual GAAP Financial Info                                                                UPTD: March 09, 2012


           As of the above date, the following is virtually duplicated within      5900-01

        First please link to the following  QB Sample Church Reports:

                            >>   Operations Balance Sheet - PHOTO                                 0700-07
                            >>   General Purpose Fund Income Statement                      0701-07
                            >>   Special Purpose Fund Class Proof                                   0704-07

         Then please link to the following QB Sample LB&E set of Books

                            >>   Annual Detailed Working Trial Balance                           0763-07
                            >>   Year End LB&E Balance Sheet                                          0767-07

             Information from the above QB Church Sample books were recapped and then placed within the Annual "Generally Accepted Accounting Principles - GAAP"   RECAP set of books.  The Year End Trial Balance info from each of the above sources was posted via their own Journal Voucher (QB Journal Entry).  The result was initially the QB Working Trial Balance and QB Provided Annual Balance Sheet and Columnar Income Statement .... from which is produced the GAAP compliant Annual Financial Statements appearing below.

           >>   QB Provided Annual Detailed Working Trial Balance           5699-07
           >>    QB Provided Annual Balance Sheet                                         5702-07
           >>    QB Provided Annual columnar Income Statement                5703-07

           As GAAP compliant:

           >>   Statement of Financial Position (Balance Sheet)                 5705-07       
           >>   Annual Statement of Activities #1                                             5706-07
           >>   Annual Statement of Activities #2                                             5707-07  
               >>   Annual Statement of Cash Flow                                            5708-07

        Please Go Here  for more GAAP information.  Also be aware of the potential GAAP Overkill as explained when you go to our  Editorial.  


     Was UPTD: May 09, 2011

ABOUT  US   |  OUR PURPOSE   |  TABLE OF CONTENTS   |  SEARCH  MATTERS  |  HELP DETAILS   |  FUND ACCTG VIA COMPUTERS   |  GLOSSARY