Questions from Accounting for Government and Non-Profit

Q: Describe the format prescribed by the GASB for the government-wide

Describe the format prescribed by the GASB for the government-wide statement of activities and how that format benefits financial statement users.

Q: Explain the essential differences between revenues and other financing sources and between

Explain the essential differences between revenues and other financing sources and between expenditures and other financing uses. How is each of these items reported on the governmental funds stat...

Q: Distinguish among appropriations, allotments, expenditures, encumbrances, and expenses

Distinguish among appropriations, allotments, expenditures, encumbrances, and expenses.

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...