会计paper范文：Accounting for General Long-Term Liabilities and Debt Service

本文是会计专业的paper范例，题目是“Accounting for General Long-Term Liabilities and Debt Service（一般长期负债和偿债的会计处理）”，这些债务的使用是国家财政政策的一部分，特别是为购买一般资本资产融资。资本项目基金报告的经营性报表增加和减少可花费的资源(Ruppel, 2015)。一般来说，长期负债是指一年以上到期的财务债务。政府一旦决定设立资本项目基金，就会决定需要多少资本项目基金。

Introduction介绍

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.

作为一种政府基金类型，资本项目基金使用修改后的权责发生制会计基础。一般资本资产的收购，在资金数额较大的情况下，不能从一般资金中获得资金。几年前，政府发行的长期债券通常会在给定的日期到期，导致大量的“气球”付款。在大多数情况下，政府被允许(但不是必须)设立资本项目基金，用于重大资产的收购和建设。

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一般资本资产和资本项目的会计核算

 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资助的活动使用的长寿命资产被称为普通资本资产(Reck, 2016)。一般资本资产和资本资产之间有一个区别，即它们与由信托基金和自营基金资助的活动有关。由于政府财务报告和运作的性质，资本资产在全政府净头寸表中报告，而不在基金财务报表中报告。换句话说，占专有基金(信托基金)的资本资产被认为是用于政府活动的资本资产。

 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.

政府经常使用资本项目基金类型来核算和报告主要的资本收购和建设活动(Ruppel, 2015)。如果钱是限制和接收从个人或组织活动,如礼物,资本租赁,转让从其他基金,等,建议使用资本项目基金因为长期债务,可以记录在相关政府活动在政府层面。

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.

在大多数情况下，政府被允许(但不是必须)设立资本项目基金，用于重大资产的收购和建设。可以为这些活动使用一个或多个基本建设项目资金，也可以用于与基本建设项目有关的特别收入和由特别评估供资的基本建设改进。政府一旦决定设立资本项目基金，就会决定需要多少资本项目基金。

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.

长期债务和其他债务通常不报告在政府基金中。它们在政府范围内的净头寸声明中被报告为负债，或作为专有基金的负债(Ruppel, 2015)。这些债务的使用是国家财政政策的一部分，特别是为购买一般资本资产融资。一般来说，长期负债是指一年以上到期的财务债务。

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.

国会将债务强加于法定债务上限之上。这是调整后的美国国债余额。这些变化包括未摊销折扣、旧债务和安全债务。美国国债有两种类型。首先是政府对自己的亏欠。其中大部分是社会保障货币基金和联邦工人退休基金。欠其他所有人的债务就是公共债务。这是总债务的70%提高债务上限的重要性体现在总统和国会不能就财政政策达成一致，以保护财产所有者免受没收税收。

 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.

受该法律影响的每个独立政府实体都有债务限制法律，但不得超过该法律。这意味着该县可能在法定限度内发生债务，乡镇可能在该县内发生债务，城市也可能因其所在地区已发生债务而发生债务。当这种情况发生时，它被称为重叠债务。换句话说，重叠债务指的是一个政治管辖区的财政义务也部分落在附近的管辖区(陈，2018)。债务重叠在大多数州都很常见，因为它们因不同的税收目的而被划分为许多管辖区;例如，建设一座新建筑或一所新的公立学校的项目。两个政府机构可能会发生管辖权重叠的情况，比如一个州和一个市或一个市和一个县。

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结论

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.

如果钱是限制和接收从个人或组织活动,如礼物,资本租赁,转让从其他基金,等等,建议相关资本项目基金的使用,因为长期债务,可以记录在政府活动在政府层面。

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.

一般资本资产遵循政府会计准则委员会(GASB)广泛的累计折旧净额报告，资本化活动账户在政府广泛的水平和借记到适当的政府基金的支出。

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