Welcome to the 14th edition of Accounting for Governmental and Nonprofit Entities. This book continues to be the leading governmental and not-for-profit accounting text, in part because of the tremendous contributions of Dr. Leon E. Hay, now retired. Dr. Hay joined Professor R. M. Mikesell of Indiana University–Bloomington in 1961 on the third edition of this book, which was first published in 1951. Dr. Earl R. Wilson joined with the ninth edition (1992) and Dr. Susan Kattelus with the 11th edition (1999) of the text. Dr. Jacqueline Reck joins this edition of the text. Dr. Wilson and Dr. Kattelus have followed Dr. Hay’s example by serving as President of the Government and Nonprofit (GNP) Section of the American Accounting Association and as members of the Governmental Accounting Standards Advisory Council, among other councils and boards. Professors Wilson, Kattelus and Reck are active in many professional organizations. Professors Kattelus and Reck regularly teach a GNP course at their universities. Drs. Wilson and Hay are two of only eight people who have received the Enduring Lifetime Contribution Award from the Government and Nonprofit Section of the American Accounting Association.