New Features:
The new edition will include coverage of the following new professional materials:

• GASB Standards through No. 50 on Pensions,



• GASB White Paper - Why Governmental Accounting and Financial Reporting Is - and Should Be - Different.



• FASB Exposure Draft "Not-for-profit Mergers and Acquisitions"



• AICPA Audit and Accounting Guides (Health Care 2006) and (Not for profit organizations 2007



• Government Accountability Office - Government Auditing Standards - 2007 YellowBook.



• New end of chapter problems and exercises integrated throughout the whole textbook.

Retained Features:

• End-of-Chapter problems using web sites: These problems require access to the GASB and Government Finance Officers Association websites. Others require access to financial statements of not-for-profit organizations.



• Summaries of academic research: Financial information on not-for-profit organizations is becoming increasingly available, stimulating research among academics. The 8 th edition of this text provides a brief discussion of published research in the nonprofit area for the purpose of developing student awareness of the major issues and findings from this important economic sector.



• Contains information on auditing, taxation of exempt entities, and service efforts and accomplishments, topics that many other governmental texts do not include.



• Integrated text problem (Village of Elizabeth) in Chapters 4-8.



• Integrated continuous problem for state and local governments (Chapters 1-9).



• Financial statement analysis in text and problems.



• Problems requiring use of an actual Comprehensive Annual Financial Report.