Chapter 14 - Financial reporting by the federal government. In this chapter students will be able to: Describe the reporting requirements of federal agencies and the US government; understand the purpose and composition of the required financial statements of federal government units; prepare journal entries for typical transactions of a federal government unit, applying budgetary and proprietary accounting practices. | Lecture Essentials of accounting for governmental and not-for-profit organizations (12/e) – Chapter 14: Financial reporting by the federal government