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Financial Accounting for Local and State School Systems, 2003 Edition

Account Classification Description
Quick Code Finder by Number/Category
Code Descriptions in Alphabetical Order

Table of Contents
Uses of Information
Governmental  Accounting
Financial Accounting
Cost Accounting and Reporting for Educational Programs
Activity Fund Guidelines
Summary of Account Code Changes and other Appendices
PDF File (1044 KB)

Frank Johnson
(202) 502-7362

List of Tables and Figures

Table 1. Measurement Focus and Basis of Accounting for Financial Statements
Table 2. Financial Statement Components and User Groups
Table 3. Net Asset Classification
Table 4. Classification of Revenues
Table 5. GASB Statement 34-Contents of a Comprehensive Annual Financial Report
Table 6. Statement of Net Assets vs. Combined Balance Sheet
Table 7. Distinguishing Between Governmental Activities and Business-Type Activities
Table 8. Determining Liquidity of Assets and Liabilities
Table 9. Measurement Focus and Basis of Accounting for Financial Statements
Table 10. Important Distinctions Between MD&A and Letter of Transmittal
Table 11. Program Cost Report Format
Table 12. Cost Analysis Example
Table 13. Examples of Authorized Student Activity Funds
Table 14. Examples of Authorized District Activity Funds
Figure 1. Lines of Authority for Student Activity Funds
Figure 2. Criteria for Distinguishing Equipment From Supply Items

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National Center for Education Statistics -
U.S. Department of Education