ACCO 4400 - 3008 2.1

Required: Prepare the appropriate journal entries for the university for these transactions.

Which of the following rule-making authorities would establish accounting standards for New York University?     The AICPA     The FASB     The FASAB     The GASB

ase Study Research: Your team has been hired to conduct academic research on a financial institution (banking) that operates within the Caribbean region or Europe.  They have outlined critical areas within the organization that they would like you to examine.   Instructions: Case Study Requirements      Select a financial institution that operates within either region      The team needs to describe and assess three banking services that the entity offers and also examine how its operations has managed within the dynamic global environment over the past three years.       Once the review has been completed, your team has been mandated to provide at least five recommendations to improve operations and/or banking services for the period 2024-2026. The recommendations should include but is not limited to, a comprehensive review of the banking services currently offered and how to address any internal or external challenges that may have been identified, along with strengths, weaknesses…

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Fact Finding of financial market regulator in AustraliaAssuming after graduation you would like to apply for a position at ASIC. Go to the websiteof Australian Securities and Investment Commission, do a fact finding and answer thefollowing questions: (1) What are the ASIC roles?(2) Who and what ASIC regulate?(3) What are the powers of ASIC?

E 19-3 Multiple choice Which of the following is considered an exchange transaction under GASB 33? A city receives a federal grant A bus driver collects bus fare from a rider Property taxes are collected from a homeowner An employer withholds state income tax from employee paychecks One would not expect to find fixed asset accounts in the Governmental fund financial statements Proprietary fund financial statements Government-wide financial statements Financial statements of a governmental entity The cash received from the sale of vehicles used by the sheriff’s office should be recorded in The general fund The general fixed assets account group A capital projects fund A debt service fund Which fund follows the modified accrual basis of accounting? General fund Special revenue fund Debt service fund All of the above The simplified governmental fund accounting model is as follows: Assets = Liabilities + Fund BalanceAssets =…

C. Using the contents presented in the Units supported by information in the relevant IPSASs, give a comprehensive definition (with examples) of revenue and expenditure appropriate for a Central Government.

Codification Exercises If your school has a subscription to the FASB Codification, go to http://aaahq.org/asclogin.cfm to log in and prepare responses to the following. Provide Codification references for your responses. CE6-1 Access the glossary ("Master Glossary") to answer the following. (a) What is the definition of present value? (b) Briefly describe the term "discount rate adjustment technique." CE6-2 In addition to the list of topics identified in footnote 1 on page 268, identify the specific Codification guidance related to the use of present value in goodwill impairment. CE6-3 What is interest cost? Briefly describe imputation of interest.

Which of the following is required as part of the complete set of financial statements for a private college or university? a. Statement of changes in financial position b. Statement of activities c. Statement of revenues, expenses, and changes in net assets d. None of the above