explaining the various items that are considered as sources and applications  of fund while preparing a Funds Flow Statement.

Q: What is the purpose of reporting fund balance in five classifications? What is the difference…

A: A fund balance refers to the difference between the assets and liabilities of a government fund. If…

Q: In your own words, describe ETF’s investment objective, strategy and benchmark. Please include fund…

A: An ETF is a collection of assets whose shares are traded on a stock market. They combine the…

Q: xplain the financial statements that are needed for an Enterprise Fund to meet the requirements for…

A: As per Generally Accepted Accounting Principles (GAAP), companies are required to report on the…

Q: Prepare a one-page memo for a client organization to explain the purpose of a capital funds project…

A: The objective of this question is to prepare a memo that explains the purpose of a capital funds…

Q: Describe the physical structure of a complete set of government-wide financial statements and a…

A: This question is answered generally by giving an overview of Governmental financial statements of…

Q: how may resources in the general fund can be assigned to a specific purpose (if that is the intent…

A: The gap between assets as well as liabilities throughout the government expenditures balance sheet…

Q: Kayak Company uses a job order costing system and allocates its overhead on the basis of direct…

A: The predetermined overhead rate is calculated as estimated overhead cost divided by estimated base…

Q: What are the two different ways that supplies and prepaid items can be recorded on fund financial…

A: There are two different methods to record supplies and prepaid items on fund financial statements:…

Q: Explain the distinction/s between custodial funds and trust funds. What financial statements…

A:

Q: Which Statement is presented using the accrual basis of accounting? Multiple Choice A. Governmental…

A: The accrual basis of accounting is a system of documenting and reporting financial transactions in…

Q: After closing entries, a special revenue fund's Fund Balance account represents the net amount of…

A: The statement is True. After closing entries, a special revenue fund's Fund Balance account indeed…

Q: A government entity is required to include a statement of cash flows in which of the following…

A: The proprietary funds of a government entity include enterprise funds and internal service funds.…

Q: Write the summary of sources and uses of funds according to changes in the account?

A:

Q: Define tapping fund assets

A: Fund asset: It can be defined as the value of cash, securities, and other holdings related to a…

Q: governmental funds in fund accounting is a(n): a. Economic Resource Measurement Focus. b.…

A: For government to achieve  faith and accountability it is important to provide the data which are…

Q: What is the basic structure of government-wide financial statements and fund financial statements…

A: Financial statements: Financial statements are condensed summary of transactions communicated in the…

Q: The governmental fund financial statements are intended to report on fiscal accountability.…

A: Fiscal accountability refers to developing and maintaining budget and independent fiscal review.

Q: What are the two fund types within the proprietary funds? What types of events does each report?

A: Two Fund Types with in the Proprietary funds: 1) The Enterprise Fund. 2) The Internal Service funds.

Q: Please describe a special revenue fund you find particularly beneficial.

A: A special revenue fund is a govt account that gathers money for a specific project. Special revenue…

Q: Which of the following funds are classified as proprietary funds? Group of answer choices a.)…

A: The fund which is used to account for the business transactions are proprietary funds. These…

Q: What are the purpose and financial reporting requirements for the General and Special Revenue Funds?…

A: The general fund is the primary operating fund of a government, and it is responsible for anything…

Q: Which basis of accounting should be used when preparing a budgetary comparison schedule (or…

A: Answer:- Budgetary meaning:- To put it succinctly, budgetary refers to everything associated with a…

Flow of Funds

The flow of funds is the financial accounts of the nation, which monitor and control the cash flow among various sectors or industries, or markets. Central banks use these flow of funds statements to acquire macroeconomic data, to publish cash inflow and cash outflow statements of the nation. This flow of funds system is utilized to identify economic activity and changes in the economy. It is used by Federal Reserve to determine the Gross Domestic Product (GDP) of the nation and to implement monetary policy and fiscal policies.