Advanced Accounting
14th Edition
ISBN: 9781260247824
Author: Joe Ben Hoyle, Thomas F. Schaefer, Timothy S. Doupnik
Publisher: RENT MCG
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Chapter 16, Problem 2Q
To determine
Explain why accountability and control so important in the traditional accounting for state and local government.
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1A. Why have accountability and control been so important in the traditional accounting for state and local governments?
1B. How has the dual system of financial statements impacted the financial reporting of state and local governements?
Do you consider Government Accounting a form of control in public administration? Support your answer by stating the control responsibility of government accounting.
Are the officers of the Local Government Unit internal or external users?why? Differentiate internal users from external users of accounting information?
Chapter 16 Solutions
Advanced Accounting
Ch. 16 - Prob. 1QCh. 16 - Prob. 2QCh. 16 - Prob. 3QCh. 16 - Prob. 4QCh. 16 - What measurement focus is used in fund financial...Ch. 16 - Prob. 6QCh. 16 - Prob. 7QCh. 16 - In applying the current financial resources...Ch. 16 - Prob. 9QCh. 16 - What are the five fund types within the...
Ch. 16 - Prob. 11QCh. 16 - What are the four fund types within the fiduciary...Ch. 16 - Prob. 13QCh. 16 - Fund financial statements have separate columns...Ch. 16 - The general fund of a city reports assets of...Ch. 16 - Why are budgetary entries recorded in the...Ch. 16 - How are budget results shown in the financial...Ch. 16 - Prob. 18QCh. 16 - Prob. 19QCh. 16 - Prob. 20QCh. 16 - How do governmental funds report capital outlay in...Ch. 16 - Prob. 22QCh. 16 - Prob. 23QCh. 16 - Prob. 24QCh. 16 - How is the issuance of a long-term bond reported...Ch. 16 - Prob. 26QCh. 16 - Prob. 27QCh. 16 - Prob. 28QCh. 16 - What is an internal exchange transaction, and how...Ch. 16 - Prob. 1PCh. 16 - Prob. 2PCh. 16 - Prob. 3PCh. 16 - Prob. 4PCh. 16 - Prob. 5PCh. 16 - Prob. 6PCh. 16 - Which of the following statements is correct about...Ch. 16 - Prob. 8PCh. 16 - Prob. 9PCh. 16 - The City of Bagranoff holds 90,000 in cash that...Ch. 16 - Prob. 11PCh. 16 - The general fund pays rent for two months. Which...Ch. 16 - A purchase order for 3,000 is recorded in the...Ch. 16 - At the end of the current year, a government...Ch. 16 - A government buys equipment for its police...Ch. 16 - A city acquires supplies for its fire department...Ch. 16 - Prob. 17PCh. 16 - The state government passes a law requiring...Ch. 16 - The state awards a grant of 50,000 to the Town of...Ch. 16 - A city issues a 60-day tax anticipation note to...Ch. 16 - A city issues five-year bonds payable to finance...Ch. 16 - The City of Dylan issues a 10-year bond payable of...Ch. 16 - Prob. 23PCh. 16 - A 110,000 payment is made on a long-term...Ch. 16 - A city constructs a special assessment project (a...Ch. 16 - A city constructs curbing in a new neighborhood...Ch. 16 - Which of the following is an example of an...Ch. 16 - The governmental funds of the City of Westchester...Ch. 16 - Government officials of Hampstead County ordered a...Ch. 16 - A local government has the following transactions...Ch. 16 - Prepare journal entries for the City of Puddings...Ch. 16 - Prepare journal entries for a local government to...Ch. 16 - The following unadjusted trial balances are for...
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Similar questions
- Which of the following is not an inherent power of a government? A. Eminent Domain B. Police Power C. Taxation D. People Powerarrow_forwardHow has the dual system of financial statements impacted the financial reporting of state and local governments?arrow_forwardHow would you define government accounting and what are the essential elements of government accounting?arrow_forward
- What does the management’s discussion and analysis (MD&A) normally include? Where does a state or local government present this information?arrow_forwardWhat are some of the functions of a state board of public accountancy?arrow_forwardWhy should responsibility for related transactions be divided among different departments or individuals?arrow_forward
- What is the role of commission on audit in fiscal administration?arrow_forwardAre there sufficient internal and external controls in government operations?arrow_forwardWhat are the salient features and changes in the Government Accounting Manual? What problems or issues of the previous government accounting system that it tries to address? BoldItalicUnderlinearrow_forward
- Which financial-service firms are regulated primarily at the federal level and which at the state level? Can you see problems in this type of regulatory structure?arrow_forwardHow does the Single Audit Act work?What effect has this legislation had on governmental organization auditing?What formats do auditors' reports and opinions take?arrow_forwardExplain the makeup of a primary government and its relationship to component units and related organizations as well as the combination of governments.arrow_forward
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