Principles of accounting and financial reporting

CPB provides the Application of Principles of Accounting and Financial Reporting to Public Telecommunications Entities for use by public broadcasters systemwide and by their independent accountants.

The document describes in detail -- and presents extensive examples of -- the basic financial statements that CPB station grantees must prepare for audit by independent accountants and subsequent submission to CPB as a condition of the receipt of funds from CPB.

Federal law requires CPB to develop these principles of accounting and financial reporting for all public telecommunications entities that receive funds from CPB.

This document was updated in 2005 with help from accountants KPMG and in consultation with the US Government Accountability Office, as the law also requires.