Questions from Accounting for Government and Non-Profit

Q: From what two perspectives must the financial statements under the GASB No

From what two perspectives must the financial statements under the GASB No. 34 reporting model be prepared? How do the two differ from each other?

Q: In what way, if any, does the accounting equation as

In what way, if any, does the accounting equation as applied in governmental and not‐for‐profit accounting differ from that as applied in business accounting?

Q: What is a CAFR? What are its main components?

What is a CAFR? What are its main components?

Q: Distinguish among the three categories of restrictiveness into which the net assets

Distinguish among the three categories of restrictiveness into which the net assets of not‐for‐profit organizations must be separated for purposes of external reporting. By whom must these restriction...

Q: Distinguish between nonspendable, restricted, committed, and assigned fund balance

Distinguish between nonspendable, restricted, committed, and assigned fund balance.

Q: In which section of the Comprehensive Annual Financial Report (CAFR)

In which section of the Comprehensive Annual Financial Report (CAFR) are the budget‐to‐actual comparisons of the major funds? a. Which accounting basis did the City follow to prepare its annual operat...

Q: Does the CAFR include budget‐to‐actual comparisons of nonmajor

Does the CAFR include budget‐to‐actual comparisons of nonmajor funds? If so, in what section?

Q: Does the government encumber goods or services that have been ordered but

Does the government encumber goods or services that have been ordered but have not yet been received? How, if at all, are encumbrances reflected on the governmental fund balance sheet? How, if at all,...

Q: For each of the following organizations, propose at least one measure

For each of the following organizations, propose at least one measure of outputs and two of outcomes. 1. The admissions office of a selective private college 2. The sales tax division of a city govern...

Q: The Disability Research Institute receives its funding mainly from government grants and

The Disability Research Institute receives its funding mainly from government grants and private contributions. In turn, it supports research and related projects carried out by universities and other...