Questions from Accounting for Government and Non-Profit


Q: What are general capital assets? How are they reported in the

What are general capital assets? How are they reported in the fund and government-wide financial statements?

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Q: What is a service concession arrangement, and why might a government

What is a service concession arrangement, and why might a government choose to enter into such an arrangement? Provide examples of general capital assets that might be subject to service concession ar...

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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. Many cities, particularly those with a population greater than 25,000, publish their CAFRs on the city’s official Web sit...

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Q: Compare and contrast the valuation of general capital assets of a government

Compare and contrast the valuation of general capital assets of a government to the valuation of assets of a for-profit entity. What special issues may arise in valuing a government’s assets that gene...

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Q: What are examples of intangible assets held by governments? How are

What are examples of intangible assets held by governments? How are they recorded?

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Q: What is the accounting difference between using the modified approach for infrastructure

What is the accounting difference between using the modified approach for infrastructure assets and depreciating infrastructure assets? Under the modified approach, what happens if infrastructure asse...

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Q: If a capital project is incomplete at the end of a fiscal

If a capital project is incomplete at the end of a fiscal year, what happens to Encumbrances and all operating statement accounts at year-end?

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Q: Both a capital projects fund general ledger and the governmental activities general

Both a capital projects fund general ledger and the governmental activities general ledger at the government-wide level are affected by transactions related to construction of a new capital asset for...

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Q: What two measures help protect a government from failure on a contractor’s

What two measures help protect a government from failure on a contractor’s part to comply with the terms and specifications of a construction agreement? Describe each measure and its primary purpose....

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Q: How are general long-term liabilities distinguished from other long-

How are general long-term liabilities distinguished from other long-term liabilities of the government? How does the financial reporting of general long-term liabilities differ from the financial repo...

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