governmental and not for profit accounting terminology

... accumulate resources for paying interest on all debt issued by the government b to account for all outstanding long-term and short-term debt issued by the government c to account for outstanding general ... Funds sell goods and services to governmental agencies, and Enterprise Funds sell goods and services to the general public This means an Enterprise Fund cannot sell some goods and services to ... department assuming it performs governmental- type activities and is accounted for in the General Fund Then compute total annual expenses for this department assuming it performs activities within

Ngày tải lên: 11/11/2017, 10:42

... principles for all Private Not- for- Profits in the U.S Public Not- for- profits: The Governmental Accounting Standards Board establishes accounting principles for all governmentally related notfor -profit ... reporting standards for: A) all governmental units and agencies B) federal, state, and local governments C) all governmental units and all not- for- profit organizations D) state and local governmental ... may not be capitalized by state and local governmental units True False FASB sets the reporting standards for private and public notfor -for profits True False An organization is presumed to be governmental

Ngày tải lên: 27/03/2017, 08:03

... Not- for- profits: The Financial Accounting Standards Board establishes accounting principles for all Private Not- for- Profits in the U.S Public Not- for- profits: The Governmental Accounting Standards ... accrual accounting, revenues are recognized when earned and realizable Identify the accounting standard setting bodies for U.S commercial, private not- for- profits, public not- for- profits, state and ... establishes accounting principles for all governmentally related notfor -profit organizations in the U.S State and Local Governments: The Governmental Accounting Standards Board establishes accounting

Ngày tải lên: 27/03/2017, 08:03

... establish accounting and financial reporting standards for: A)Federal government B)Private not- for- profits C)Public not- for- profits D)State and local governments Which of the following is not a fiduciary ... governments and governmentally-owned utilities, authorities, hospitals, and colleges and universities C)all governmental units and all not- for- profit organizations D)state and local governmental ... The Financial Accounting Standards Board (FASB) is the standard setting organization for which of the following reporting organizations? A) Private not- for- profits B) Public not- for- profits C) Investor

Ngày tải lên: 27/03/2017, 08:26

... safety Charges for services, health and sanitation Operating grant, health and sanitation Charges for services, culture and recreation Charges for services, water and sewer Charges for services, ... capacity, demographic and economic information and operating information Data is generally presented for the past 10 years 2-26 Chapter 02 - Overview of Financial Reporting for State and Local Governments ... CAFR Answer: Financial trends information Revenue capacity information Debt capacity information Demographic and economic information Operating information 128 List and describe the three major

Ngày tải lên: 24/10/2017, 14:55

... safety Charges for services, health and sanitation Operating grant, health and sanitation Charges for services, culture and recreation Charges for services, water and sewer Charges for services, ... CAFR Answer: Financial trends information Revenue capacity information Debt capacity information Demographic and economic information Operating information 129 List and describe the three major ... capacity, demographic and economic information and operating information Data is generally presented for the past 10 years 25 Chapter Overview of Financial Reporting for State and Local Governments

Ngày tải lên: 24/10/2017, 14:55

... has the authority to establish accounting and financial reporting standards for: A)Federal government B)Private not- for- profits C)Public not- for- profits D)State and local governments The GASB ... governments and governmentally-owned utilities, authorities, hospitals, and colleges and universities C)all governmental units and all not- for- profit organizations D)state and local governmental ... The Governmental Accounting Standards Board has been given authority to establish accounting and financial reporting standards for: A)all governmental units and agencies B)federal, state, and

Ngày tải lên: 14/11/2017, 16:04

... safety Charges for services, health and sanitation Operating grant, health and sanitation Charges for services, culture and recreation Charges for services, water and sewer Charges for services, ... Financial Reporting for State and Local Governments 148 The following water and sewer information is available for the preparation of the financial statements for the County of Augusta for the year ... Financial Reporting for State and Local Governments Governmental Activities: General Government Public Safety Public Works Health and Sanitation Culture and Recreation Total Governmental Activities

Ngày tải lên: 02/10/2019, 11:37

... safety Charges for services, health and sanitation Operating grant, health and sanitation Charges for services, culture and recreation Charges for services, water and sewer Charges for services, ... Financial Reporting for State and Local Governments 148 The following water and sewer information is available for the preparation of the financial statements for the County of Augusta for the year ... Financial Reporting for State and Local Governments Governmental Activities: General Government Public Safety Public Works Health and Sanitation Culture and Recreation Total Governmental Activities

Ngày tải lên: 02/10/2019, 11:37

... safety Charges for services, health and sanitation Operating grant, health and sanitation Charges for services, culture and recreation Charges for services, water and sewer Charges for services, ... CAFR Answer: Financial trends information Revenue capacity information Debt capacity information Demographic and economic information Operating information 129.List and describe the three major ... capacity, demographic and economic information and operating information Data is generally presented for the past 10 years 25 Chapter Overview of Financial Reporting for State and Local Governments

Ngày tải lên: 02/10/2019, 11:37

... Public not- for- profits Private not- for- profits Investor-owned businesses Federal Accounting Standards Advisory Board (FASAB) Governmental Accounting Standards Board (GASB) Governmental Accounting ... governments Accounting and financial reporting standards for profit- seeking businesses and for nongovernmental not- for- profit organizations are set by the Financial Accounting Standards Board ... TO ACCOUNTING AND FINANCIAL REPORTING FOR GOVERNMENTAL AND NOT- FOR- PROFIT ORGANIZATIONS Generally Accepted Accounting Principles Objectives of Accounting and Financial Reporting Objectives of Accounting...

Ngày tải lên: 20/06/2014, 20:20

... $748,800 and revenues from business licenses were $137,202 Expenditures were $499,200 for general government, $131,345 for parks and recreation, $91,600 for sanitation, and $157,333 for streets and ... Statement 54: • General Fund Accounts for and reports all financial resources not accounted for and reported in another fund • Special Revenue Funds Account for and report the proceeds of specific ... standards guide the format of this comparison, the GASB does not prescribe budgetary accounting practices and does not require governments to maintain budgetary accounts Budgetary accounts not...

Ngày tải lên: 20/06/2014, 20:20

... licenses and permits, fines and forfeits, intergovernmental revenue, charges for services, and other sources not susceptible to accrual are recognized on the cash basis Collections for the year ... 4:42:28 PM Accounting for the General and Special Revenue Funds 91 Interfund Services Provided and Used Interfund services provided and used represent transactions involving sales and purchases ... pay for the period amounted to $78,000 for employees’ state income tax withholdings and $686,000 due to the federal government ($430,000 for federal income tax withholdings and $256,000 for the...

Ngày tải lên: 20/06/2014, 20:20

... statements prepared for commercial businesses and private not- for- profit organizations Apago PDF Enhancer Accounting for Municipal Solid Waste Landfills Many of the solid waste landfills in the United ... between GASB requirements and the requirements by FASB for businesses and nongovernmental, not- for- profit organizations First, cash flow statements for proprietary funds of government have four categories, ... organizations (FASB statements and interpretations applicable only to not- for- profit organizations not apply to governments) The option chosen must be disclosed in the notes Apago PDF Enhancer INTERNAL...

Ngày tải lên: 20/06/2014, 20:20

... drainage.” Governmental health care entities, public school systems, other not- forprofit entities (e.g., museums), and public colleges and universities may be considered special-purpose entities for ... bookstores, and food service operations GASB requirements for business-type activities call for accrual accounting for debt, including accrual of interest and amortization of debt discount and premium ... colleges and universities GASB STATEMENT 34 REPORTING RULES FOR SPECIAL-PURPOSE ENTITIES Chapters through provide accounting and financial reporting guidance for general-purpose state and local...

Ngày tải lên: 20/06/2014, 20:20

... SUMMARY AND CONCLUSIONS REGARDING HEALTH CARE ACCOUNTING AND REPORTING Health care entities may be private, not- for- profit, governmental, or commercial (for- profit) Private, not- for- profit, and commercial ... (see Illustration 11–5) for private not- for- profit organizations and is required for governmental health care organizations (see Illustration 6–5) FINANCIAL REPORTING FOR GOVERNMENTAL HEALTH CARE ... be private not- for- profits, governmentally owned, or owned by private investors Like charities and private colleges, private not- for- profit health care organizations follow FASB standards In...

Ngày tải lên: 20/06/2014, 20:20

... Organizations, and Evaluating Performance 387 and (3) the use of financial and nonfinancial measures to evaluate the performance and financial position of government and not- for- profit organizations GOVERNMENTAL ... under FASB standards for private not- for- profits except that a cash flow statement and notes are not required Illustration 13–5 reproduces the balance sheet required in Form 990 Note that pledge ... statements by state and local governments and a variety of not- for- profit organizations Now we will focus on the use of financial and nonfinancial information in evaluating the performance and financial...

Ngày tải lên: 20/06/2014, 20:20

... Governments, and Not- for- Profit Organizations Receiving Federal Awards Replaces former OMB Circular A–128 for state and local governments and A–133 for not- for- profit organizations Provides guidance for ... plant acquisition, and term endowments net assets—unrestricted (governmental and not- for- profit) Used in accounting for govern- organizations indicating Apago PDF mental and not- for- profitthat is ... 7:57:39 PM Governmental and Not- for- Profit Accounting Terminology forfeiture Automatic loss of cash or other property as a punishment for not complying with legal provisions and as compensation for...

Ngày tải lên: 20/06/2014, 20:20

... Not- for- Profit Organizations, 337, 363 Audit and Accounting Guide: Health Care Organizations, 273 Audit and Accounting Guide: Not- for- Profit Organizations, Audit and Accounting Guide: State and ... 111 Note disclosures, 304 Not- for- profit accounting, overview, 302–308 Not- for- profit entities assets identification, 322 financial reporting objectives, Not- for- Profit Entities: Mergers and ... Governmental and Not- for- Profit Accounting Terminology G-14 contributions, and capital grants and contributions that are related to specific programs and subtracted from those...

Ngày tải lên: 20/06/2014, 20:20

... Public not- for- profits Private not- for- profits Investor-owned businesses Federal Accounting Standards Advisory Board (FASAB) Governmental Accounting Standards Board (GASB) Governmental Accounting ... governments Accounting and financial reporting standards for profit- seeking businesses and for nongovernmental not- for- profit organizations are set by the Financial Accounting Standards Board ... TO ACCOUNTING AND FINANCIAL REPORTING FOR GOVERNMENTAL AND NOT- FOR- PROFIT ORGANIZATIONS Generally Accepted Accounting Principles Objectives of Accounting and Financial Reporting Objectives of Accounting...

Ngày tải lên: 22/11/2016, 13:55