Questions from Accounting for Government and Non-Profit

Q: A government accounts for a municipal landfill in an enterprise fund.

A government accounts for a municipal landfill in an enterprise fund. How will it determine how much to charge as an expense (and add to a liability) each year that the landfill is in use? Suppose ins...

Q: Hospitals and other health care organizations provide services knowing that they will

Hospitals and other health care organizations provide services knowing that they will collect from third-party payers, such as insurance companies, considerably less than their established billing rat...

Q: For what types of activities are internal service funds used to account

For what types of activities are internal service funds used to account? Provide several examples. Is a government required to account for the activities you cite in an internal service fund, or may i...

Q: It is sometimes asserted that the absence of specific principles as to

It is sometimes asserted that the absence of specific principles as to what constitutes “cost” detracts from the objectivity of the financial statements of not only internal service funds but also fin...

Q: It is often said that “self-insurance” is an

It is often said that “self-insurance” is an oxymoron. Why? If it is, what are the implications for a government that is permitted to recognize self-insurance premiums as a general fund expenditure wh...

Q: What is a service concession arrangement? Why do governments enter in

What is a service concession arrangement? Why do governments enter in to these agreements?

Q: In what way must a government account for premium revenue differently if

In what way must a government account for premium revenue differently if it accounts for self-insurance in an internal service fund rather than in its general fund?

Q: Does the government maintain any permanent funds? If so, are

Does the government maintain any permanent funds? If so, are they major or nonmajor funds and for what purposes?

Q: Does the government maintain any fiduciary funds? If so, for

Does the government maintain any fiduciary funds? If so, for what purposes?

Q: A school district prepares its budget on a cash basis. It

A school district prepares its budget on a cash basis. It is contemplating the changes or actions that follow. For each, indicate the impact that the change would have (1) on year‐ending June 30 2017...