GAAP Documentation : Maintain Component Units

GAAP Setup Overview

Purpose: This option allows the primary government to create component units to allow their discrete presentation on the entity-wide financial statements.

Field Definitions

• Format - Prepares the data for displaying on the screen or output it in a variety spreadsheet options.
• Quick Report - Gives you a report-type display on the screen or on a spreadsheet.
• Add Component Unit - Allows you to enter additional Component Units to the current list.
• Find - Allows you to search the list by Component Unit or by Description and places the component unit at the top of the list.
• Component Unit - A list of the component units on the system.
• Description - Is a general description of the component units.
• Major - Indicates whether the component unit is to be considered as a Major or Non-major component unit.
• Clicking on the pencil icon opens the entry and allows you to modify any of the fields.
• Clicking on the scissors icon allows you to delete the entry if desired.

The Display option will print the report on the screen. The other options will format the report for entering into a spreadsheet.

Sample Quick Report

ADD a New Component Unit

Clicking on the Add Component Unit button brings up the following screen which allows you to enter data for an additional component unit.

• Component Unit - Enter up to a 4 digit component unit code.
• Description - Enter the description for the new component unit.
• Major - Check the box if you want this to be a major component unit. (i.e., to be presented in its own column in the entity-wide financial statements.)

Click on the SAVE button when finished.