Q: Generally accepted accounting principles require governments to include in their annual reports
Generally accepted accounting principles require governments to include in their annual reports a comparison of actual results with the budget for each governmental fund for which an annual budget has...
See AnswerQ: Why is it important that governments and not‐for‐profits
Why is it important that governments and not‐for‐profits coordinate their processes for developing appropriations budgets with those for developing capital budgets?
See AnswerQ: Why may flexible budgets be more important to a government’s business‐
Why may flexible budgets be more important to a government’s business‐type activities than to its governmental activities?
See AnswerQ: Why do most governments and not‐for‐profits budget on
Why do most governments and not‐for‐profits budget on a cash or near‐cash basis even though the cash basis does not capture the full economic costs of the activities in which they engage?
See AnswerQ: A political official boasts that the year‐end excess of revenues
A political official boasts that the year‐end excess of revenues over expenditures was significantly greater than was budgeted. Are “favorable” budget variances necessarily a sign of efficient and eff...
See AnswerQ: Why may a government’s year‐end results, reported in accordance
Why may a government’s year‐end results, reported in accordance with generally accepted accounting principles, not be readily comparable with its legally adopted budget?
See AnswerQ: The variances reported in the “final” budget‐to‐
The variances reported in the “final” budget‐to‐actual comparisons incorporated in the financial statements of many governments may be of no value in revealing the reliability of budget estimates made...
See AnswerQ: In what way will budgetary entries and encumbrances affect amounts reported on
In what way will budgetary entries and encumbrances affect amounts reported on year‐end balance sheets or operating statements?
See AnswerQ: What is the purpose and effect of reinstating year‐end encumbrances
What is the purpose and effect of reinstating year‐end encumbrances on the books at the beginning of the following year?
See AnswerQ: The Pleasant Valley School District, which leases its buses from a
The Pleasant Valley School District, which leases its buses from a private transportation company, has determined that the direct costs of operating a bus (including rental fees, driver, and fuel) is...
See Answer