Year-End Resources  |  Financial Services  |  CSU

Year-End Legal and GAAP Accounting Resources

Legal-basis, or budgetary, accounting is a unique form of accounting for governmental entities. It allows the state legislature to measure a state agency’s performance against the budgets it enacts via the annual Budget Act. The State of California requires all state agencies, including the CSU, to maintain its accounting records on the legal basis of accounting and to file its reports of financial data on that basis.

Legal-basis accounting, however, does not comply with U.S. Generally Accepted Accounting Principles (GAAP). It is therefore necessary to convert our data to GAAP to issue audited financial statements to meet the statutory requirement and also provide information to external users.

Legal Accounting Manual

This manual provides guidance, policy, and procedures for legal-basis accounting and reporting.

GAAP Accounting Manual

This manual provides guidance, policy, and procedures for GAAP accounting and reporting.

Year-End Training

Annually, Chancellor's Office Financial Services staff hosts a multi-day training to prepare campus financial community for the year-end close process. This section includes access to this and prior years' close and GAAP preparations agendas and presentations.

Other Resources