CROSSWALK GUIDE - HUD

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Financial Data Schedule Line Definitions and Crosswalk Guide accepted to one that is generally accepted. These corrections should be presented as an adjustment to the beginning fund balances (equity), and all previous financial statements affected by the error and presented in the financial statements must be restated. This line also includes interfund equity transfers. Crosswalk: Prior period adjustments, whether increases or decreases, are made directly to the entity’s equity account(s). Postings are made to <strong>HUD</strong> account 6010 (Prior year adjustments – affecting residual receipts) and REAC suggested account 2806(Undesignated/unreserved/ retained earnings) and the appropriate asset or expense account affected by the adjustment. The financial statements for the fiscal year impacted by the adjustment are then restated to reflect accurate account balances. 1105 Changes in compensated absences liability (in the GLTDAG) Definition: This FDS line represents the change to the compensated absences liability balance in the general long-term debt account group for the current period when the reporting entity employs governmental accounting concepts. Under the governmental accounting method, changes to this liability are not expensed at any point. Therefore, to equalize this to full accrual method, which does expense the changes in this liability, the change should be recorded in this line. Crosswalk: This FDS line generally includes changes to the compensate absences liability balance in the general long-term debt account group from the prior period to the current period recorded in REAC suggested account 2135.1 (Accrued compensated absences). 1106 Changes in contingent liability balance (in the GTLDAG) Definition: This FDS line represents the change to the Self-insurance liability balance in the general long-term debt account group for the current period when the reporting entity employs governmental accounting concepts. Under the governmental accounting method, changes to this liability are not expensed at any point. Therefore, to equalize this to full accrual method, which does expense the changes in this liability, the change should be recorded in this line. Crosswalk: This FDS line generally includes changes to the Self-insurance liability balance in the general long-term debt account group from the prior period to the current period recorded in REAC suggested account 2120.3 (Accrued contingency liability). 1107 Changes in unrecognized pension transition liability (in the GLTDAG) Definition: This FDS line represents the change to the unrecognized pension transition liability balance in the general long-term debt account group for the current period when the reporting entity employs governmental accounting concepts. Under the governmental accounting method, changes to this liability are not expensed at any point. Therefore, to equalize this to full accrual method, which does expense the changes in this liability, the change should be recorded in this line. REAL ESTATE ASSESSMENT CENTER 52
Financial Data Schedule Line Definitions and Crosswalk Guide Crosswalk: This FDS line generally includes changes to the unrecognized pension transition liability balance in the general long-term debt account group from the prior period to the current period recorded in REAC suggested account 2138 (Accrued liabilities pension and severance). 1108 Changes in special terms/severance benefits liability (in the GLTDAG) Definition: This FDS line represents the change to the special term/severance benefits liability balance in the general long-term debt account group for the current period when the reporting entity employs governmental accounting concepts. Under the governmental accounting method, changes to this liability are not expensed at any point. Therefore, to equalize this to full accrual method, which does expense the changes in this liability, the change should be recorded in this line. Crosswalk: This FDS line generally includes changes to the special term/severance benefits liability balance in the general long-term debt account group from the prior period to the current period recorded in REAC suggested account 2138 (Accrued liabilities pension and severance). 1109 Changes in allowance for doubtful accounts – dwelling rents Definition: This FDS line represents the change to the allowance for doubtful accounts − dwelling rents balance for the current period when the reporting entity employs governmental accounting concepts. This is a required field if using a modified accrual. Under the governmental accounting method, changes to this account are not expensed at any point. Therefore, to equalize this to full accrual method, which does expense the changes in this account, the change should be recorded in this line. Crosswalk: This FDS line generally includes changes to the allowance for doubtful accounts − dwelling rents balance from the prior period to the current period recorded in REAC suggested account 1122.1 (Allowance for doubtful accounts – tenants). 1110 Changes in allowance for doubtful accounts – other Definition: This FDS line represents the change to the allowance for doubtful accounts − other balance for the current period when the reporting entity employs governmental accounting concepts. This is required field if using a modified accrual. Under the governmental accounting method, changes to this account are not expensed at any point. Therefore, to equalize this to full accrual method, which does expense the changes in this account, the change should be recorded in this line. Crosswalk: This FDS line generally includes changes to the allowance for doubtful accounts − other balance from the prior period to the current period recorded in REAC suggested accounts REAL ESTATE ASSESSMENT CENTER 53
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CROSSWALK GUIDE - HUD

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