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AccountingUp-to-date information on tax laws, regulations and practice toequip readers with sufficient knowledge on tax compliance and basictax planning topics and conceptsInclusion of extracts of the Singapore Income Tax Act and theGoods and Services Tax Act as a convenient and easy reference toreaders, which are often referred to in practice and in examinationsContentsPrefaceAbout the Author1. Introduction to Singapore Tax2. Concept of Income3. Tax Deductions4. Capital Allowances5. Taxation of Companies6. Taxation of Individuals7. Taxation of Partnerships8. Taxation of Non-residents9. Taxation of Foreign Income10. Goods and Services TaxExtracts of Income Tax ActPart I, Section 2: InterpretationPart III, Section 10: Charge of income taxPart IV, Section 13: Exempt incomePart V, Section 14: Deductions allowedPart V, Section 15: Deductions not allowedPart VI, Sections 16-24: Capital allowancesPart X, Section 39: Relief and deduction for resident individual andHindu joint familyPart XII, Section 45: Withholding of tax in respect of interest paid tonon-resident personsSixth Schedule, Sections 19(2) and 106(3): Number of years ofworking life of assetIndexGovernmental / Non ProfitNEW *9780078025457*ESSENTIALS OFACCOUNTING forGOVERNMENTAL andNOT-for-profitORGANIzations11th Edition2013 (February 2012) / 480 pagesISBN: 9780078025457www.mhhe.com/copley11eCopley’s Essentials of Accounting for Governmental and Not-for-Profit Organizations, 11e is best suited for those professors whoseobjective is to provide more concise coverage than what is availablein larger texts. The main focus of this text is on the preparation ofexternal financial statements which is a challenge for governmentalreporting. The approach in this edition is similar to that used in practice.Specifically, day to day events are recorded at the fund levelusing the basis of accounting for fund financial statements. Governmentalactivities are recorded using the modified accrual basis. Thefund-basis statements are then used as input in the preparation ofgovernment-wide statements. The preparation of government-widestatements is presented in an Excel worksheet. This approach hastwo advantages: (1) it is the approach most commonly applied inpractice, and (2) it is an approach familiar to students who havestudied the process of consolidation in their advanced accountingclasses. State and local government reporting is illustrated using anongoing example integrated throughout Chapters 3 through 8 and13. This edition incorporates all of the FASB, GASB, GAO and AICPApronouncements passed since the last edition.New to this editionNew Continuous Homework Problem: Students gain a comprehensiveoverview of the financial reporting process for state and localgovernments with a new continuous homework problem.Updated References: Descriptions and references have beenupdated to reflect FASB and GASB codification conventions for consistencywith current professional literature. Students are introducedto the structure of the codifications.Summaries of Academic Research: Financial information onnot-for-profit organizations is becoming increasingly available throughstimulating research by academics. The 10th edition of this text providesa brief discussion of published research in the nonprofit areafor the purpose of developing student awareness of the major issuesand findings from this important economic sector.Updated Presentation of Budgetary Accounting: The presentationof budgetary accounts, including encumbrances, is simplifiedto reduce student confusion associated with GASB Statement No.54 –Fund Balance Reporting.Most Up-to-Date Reporting Requirements: Updated for new IRSform 990 reporting requirements to reflect current law.ContentsChapter 1: Introduction to Accounting and Financial Reporting forGovernmental and Not-for-Profit OrganizationsChapter 2: Overview of Financial Reporting for State and LocalGovernmentsChapter 3: Modified Accrual Accounting: Including the Role of FundBalances and Budgetary AuthorityChapter 4: Accounting for General and Special Revenue FundsChapter 5: Accounting for Other Governmental Fund Types: CapitalProjects, Debt Service, and PermanentChapter 6: Proprietary FundsChapter 7: Fiduciary (Trust) FundsChapter 8: Government-Wide Statements, Fixed Assets, Long-TermDebtChapter 9: Accounting for Special-Purpose Entities, Including PublicColleges and UniversitiesChapter 10: Accounting for Private Not-for-Profit OrganizationsChapter 11: College and University Accounting—Private InstitutionsChapter 12: Accounting for Hospitals and Other Health-Care ProvidersChapter 13: Auditing, Tax Exempt Entities, and Evaluating PerformanceChapter 14: Financial Reporting by the Federal GovernmentBy Paul A Copley, James Madison University53