Questions from Accounting for Government and Non-Profit

Q: Which standard-setting bodies have responsibility for establishing accounting and reporting

Which standard-setting bodies have responsibility for establishing accounting and reporting standards for (1) State and local governments, (2) Business organizations, (3) Not-for-profit organization...

Q: The pre-closing trial balance for the Annette County Public Works

The pre-closing trial balance for the Annette County Public Works Capital Project Fund is provided below. Required a. Prepare the June 30, 2011, statement of revenues, expenditures, and changes in f...

Q: Why depreciation expense is typically reported as a direct expense in the

Why depreciation expense is typically reported as a direct expense in the government-wide statement of activities?

Q: Explain the essential differences between extraordinary items and special items and how

Explain the essential differences between extraordinary items and special items and how each of these items should be reported on the government-wide statement of activities.

Q: Distinguish between: a. Expenditures and Encumbrances. b

Distinguish between: a. Expenditures and Encumbrances. b. Revenues and Estimated Revenues. c. Reserve for Encumbrances and Encumbrances. d. Reserve for Encumbrances and Fund Balance. e. Appropriations...

Q: For which funds are budgetary comparison schedules or statements required? Should

For which funds are budgetary comparison schedules or statements required? Should the actual revenues and expenditures on the budgetary comparison schedules be reported on the GAAP basis? Why or why n...

Q: Explain how expenditure and revenue classifications for public school systems differ from

Explain how expenditure and revenue classifications for public school systems differ from those for state and local governments.

Q: Locate a comprehensive annual financial report (CAFR) using a city’s

Locate a comprehensive annual financial report (CAFR) using a city’s Web site, or one from the link of the GASB’s Web site, www.gasb.org. Examine the city’s government-wide statement of activities and...

Q: Refer to Case 3–1 for instructions about how to obtain

Refer to Case 3–1 for instructions about how to obtain the CAFR for a city of your choice. Using that CAFR, go to the required supplementary information (RSI) section, immediately following the notes...

Q: The following alphabetic listing displays selected balances in the governmental activities accounts

The following alphabetic listing displays selected balances in the governmental activities accounts of the City of Kokomo as of June 30, 2011. Prepare a (partial) statement of activities in good form....