Accounting For Governmental & Nonprofit Entities
18th Edition
ISBN: 9781259917059
Author: RECK, Jacqueline L., Lowensohn, Suzanne L., NEELY, Daniel G.
Publisher: Mcgraw-hill Education,
expand_more
expand_more
format_list_bulleted
Question
Chapter 2, Problem 16.13EP
To determine
Identify how governments report budgetary information accounting to GASB.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Which basis of accounting should be used when preparing a budgetary comparison schedule (or statement) for a government's General Fund?
Describe the purpose and the financial reporting requirements for the General and Special Revenue Funds. Include the way the modified basis of accounting is used to account for revenues and expenditures along with the use of budgetary accounts in your discussion.
Does a budget provide guidlines of the application of the organisaion`s resources?
Chapter 2 Solutions
Accounting For Governmental & Nonprofit Entities
Ch. 2 - Prob. 1QCh. 2 - Prob. 2QCh. 2 - Prob. 3QCh. 2 - Explain the modified accrual basis of accounting....Ch. 2 - Prob. 5QCh. 2 - What is the primary reason government entities use...Ch. 2 - What is meant by the terms deferred outflows of...Ch. 2 - How do expenses and expenditures differ?Ch. 2 - Prob. 9QCh. 2 - Prob. 10Q
Ch. 2 - Accounting and Reporting Principles. (LO2-3) The...Ch. 2 - Prob. 12CCh. 2 - Which of the following statements is true...Ch. 2 - Prob. 16.2EPCh. 2 - Prob. 16.3EPCh. 2 - The measurement focus and basis of accounting that...Ch. 2 - Which of the following amounts that are identified...Ch. 2 - Prob. 16.6EPCh. 2 - Prob. 16.7EPCh. 2 - Under the modified accrual basis of accounting a....Ch. 2 - Prob. 16.9EPCh. 2 - A certain city reports the following year-end...Ch. 2 - Prob. 16.11EPCh. 2 - Prob. 16.12EPCh. 2 - Prob. 16.13EPCh. 2 - Prob. 16.14EPCh. 2 - Which of the following fund(s) will generally be...Ch. 2 - Prob. 17EPCh. 2 - Prob. 18EPCh. 2 - Matching Funds with Transactions. (LO2-3) Choose...Ch. 2 - Fund Balance Classifications. (LO2-3) Section A...Ch. 2 - Prob. 21EPCh. 2 - Major Funds. (LO2-4) At the end of the fiscal...
Knowledge Booster
Similar questions
- What are some major adjustments required when converting from fund financial statements to government-wide statements?arrow_forwardstate the importance of transparency and validity in relation to financial plan/budget.arrow_forwardWhich of the following terms refers to a budgetary account, rather than actual account a. Unreserved Fund Balance b. Estimated revenue c. Revenue d. Expenditurearrow_forward
- 4. Governmental fund financial statements are prepared using: a) A current financial resources measurement focus and the modified accrual basis of accounting. b) A current financial resources measurement focus and the accrual basis of accounting. O c) An economic resources measurement focus and the modified accrual basis of accounting. d) An economic resources measurement focus and the accrual basis of accounting.arrow_forwardThe governmental fund financial statements are intended to report on fiscal accountability. True or Falsearrow_forwardUsing information in the relevant IPSASs, give a comprehensive definition (with examples) of revenue and expenditure appropriate for a Central Government.arrow_forward
- Which of the following uses the flow of current financial resources measurement focus? a. Internal Service Fund b. Agency Fund c. Special Revenue Fund d. Enterprise Fundarrow_forwardWhich financial statements are prepared using modified accrual accounting? A) Proprietary fund financial statements. B) Governmental fund financial statements. C) Government-wide financial statements. D) Both A. and B. E) Both B and C.arrow_forwardWhich of the following statements is the intended goal or outcome of a traditional line-item budget? Estimate the costs of accomplishing measurable tasks or activities Provide mechanisms for expenditure control Focus attention on the value of public services provided Require crosswalks to identify appropriations to agenciesarrow_forward
- What measurement focus is used in fund financial statements for governmental funds, and what system is applied to determine the timing of revenue and expenditure recognition?arrow_forwardFor governmental funds, what measuring emphasis is utilized in the fund financial statements, and what mechanism is used to establish the timing of income and expenditure recognition?arrow_forwardWhich Statement is presented using the accrual basis of accounting? Multiple Choice A. Governmental Fund Balance Sheet B. Government-Wide Statement of Activities C. Statement of Revenues, Expenditure and changes in Fund Balances D. Both A and B choices are true.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Auditing: A Risk Based-Approach to Conducting a Q...AccountingISBN:9781305080577Author:Karla M Johnstone, Audrey A. Gramling, Larry E. RittenbergPublisher:South-Western College Pub
Auditing: A Risk Based-Approach to Conducting a Q...
Accounting
ISBN:9781305080577
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:South-Western College Pub