Enumerate the objectives of the government accounting according to Section 110, Presidential Decree 1445.

Q: Activities of a general purpose government that provide the basis for GASB's financial accounting…

A: Accounting: It is the process of recording, classifying, summarizing all transactions of a business…

Q: What are some of the functions of a state board of public accountancy?

A:

Q: Differentiate between the two sets of financial statements produced by state and local governments.

A: GASB:   GASB stands for Governmental Accounting Standards Board (GASB) is an independent private…

Q: Mulitple choice question In the federal government, which organizations make appropriations and…

A: 1) Appropriation : it means setting up of money for specific purpose. For example Amount…

Q: what are some Recommendations on how government accounting may be improved in Guyana? be indeph and…

A: There are a number of ways in which government accounting in Guyana could be improved. Firstly, the…

Q: In government-wide financial statements, how do intra-activity and interactivity transactions…

A:

Q: Which of the following best identifies the purpose of the government-wide financial statements?…

A: Financial Statement comprises of Income Statement, Balance Sheet, cash flow statement and Notes to…

Q: Governmental Administrative Agencies are established by the branch. The branch and implemented by…

A: The correct order is often referred to as the "Executive, Judicial, Legislative" sequence,…

Q: What is the entity in charge of creating and ensuring accounting standards for government…

A: The questions are answered below. Please note all questions are answered in English.

Q: What is the reason that fund accounting has traditionally been a prominent factor in the internal…

A: Fund refers to a self-balancing set of accounts including cash as well as other financial resources,…

Q: How have users’ needs impacted the development of accounting principles for state and local…

A: Accounting principles refers to the set of rules and regulations which companies must follow in…

Q: will there be an instance where in the government may consider as primary user? please provide…

A: Government is defined as the group of people or the system that is used to govern the organised…

Q: Explain the history of and the reasons for the unique characteristics of the financial statements…

A: The basic two types of financial statements that are produced by the state and local governments are…

Q: What are the key sources of revenues among the federal, state, and local governments? What are the…

A: Federal Government revenue comes from individual income taxes, corporate income taxes, and payroll…

Q: What are the two government-wide financial statements? What does each normally present?

A:

Q: The modified accrual foundation of accounting should be explained. When preparing financial accounts…

A: Modified accrual basis of accounting:  A modified accrual basis of accounting is a method of…

Q: expenditure and ho

A: Reasons for India's rising govt expenditures include: (i) Development Programs: The majority of…

Q: Which of the following parties is responsible for administering the real estate budget? A. The…

A: A real estate budget is a financial plan that outlines the anticipated income and expenses…

Q: How to prepare financial statements for a government agency and non-profit organization?

A: Non-profit organization is an organization which works for the development of the society and not…

Q: What legislation governs government accounting in Trinidad? Discuss.

A: All the accounting is to be done according to the legislation of the respective land. so that the…

Q: Discuss TWO (2) techniques in performance measurement of public sector that are related to Articles…

A: As per the Federal Constitution(MALAYSIA); Article 99 is a statement of the estimated receipts and…

Q: Discuss briefly why fiscal responsibility shall to the greatest extent be shared by all those…

A: The answer is stated below:

Q: When a component unit is discretely presented in the reporting entity (under the umbrella with the…

A: Fund Financial Statement - Under Fund financial statement detailed information of government major…

Q: List and define the five classifications of government funds and provide an example for each…

A: The five classifications of governmental funds are: General Fund Special Revenue Fund Debt Service…

Q: Explain the makeup of a primary government and its relationship to component units and related…

A: The government uses a different way to report their financial statements than the private sector…

Q: rite the definition, recognition, measurement and derecognition of  GOVERNMENT GRANT.

A: Government grant:  It is the sum of the grant given to the business by the government that a…

Q: Complete the blank as appropriate: Governmental financial reporting focuses on stewardship and…

A: This was related to the reporting of the financial statement of the government entity.  The purpose…

Q: Briefly expalin what is government accounting and what are some good features on government…

A: The accounting sector includes several subfields. Public accounting is one of its components.…

Q: Discuss various other government departments and their functions in cbsa/cfia

A: The CBSA is a Canadian federal agency responsible for federal law agency that is responsible for…

Q: Explain the difference between expenses and expenditures in a state and a local government.

A: Given: The difference between the state and local government’s expenses and expenditures are given.…

Q: Proprietary Funds account for financial resources segregated to pay principal or interest on…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Which of the following is an expense recognition criterion for recording a government transfer…

A: Section  PS 3410 government transfers: This section gives the provisions for the recognition,…

Q: True or False questions F. jn the government-wide financial statements, three types of activities…

A: Government-wide financial statements are the final reports of the government funds prepared at the…

Q: Which of the following government-wide accounts reflects amounts owed between governmental…

A: The internal balances account will be reported as an asset in the government wide financial…

Q: How has the dual system of financial statements impacted the financial reporting of state and local…

A: Financial statement:   Financial statements are prepared to summaries the account at the end of the…