Questions from Accounting for Government and Non-Profit

Q: Explain the differences among these accounts: (1) Estimated Revenues

Explain the differences among these accounts: (1) Estimated Revenues used by state and local governments, (2) Other Appropriations Realized used by federal agencies in their budgetary track, and (...

Q: Defining the reporting entity at the federal level is complicated by different

Defining the reporting entity at the federal level is complicated by different perspectives from which the federal government can be viewed. What are the three perspectives? How are they defined? How...

Q: Go to the Internet Web sites of any five of the charitable

Go to the Internet Web sites of any five of the charitable organizations listed in Illustration 14–7 and search for financial information and performance measures they may disclose on their Web sites...

Q: The federal government uses two groups of funds. Identify the two

The federal government uses two groups of funds. Identify the two fund groups, and the funds associated with each group. Compare the funds to those used by state and local governments.

Q: What are stewardship assets? How does the accounting for a stewardship

What are stewardship assets? How does the accounting for a stewardship asset differ from that for general property, plant, and equipment?

Q: W hat are the two tracks in the dual-track accounting

W hat are the two tracks in the dual-track accounting system? Explain the purpose of each track. Relate each track to state and local governmental “dual track” accounting.

Q: Under GASB guidance when should an item be recognized on the face

Under GASB guidance when should an item be recognized on the face of the financial statements? Under what conditions, would the GASB indicate that a note disclosure should accompany an item that has b...

Q: State and general purpose local governments are considered primary governments. Under

State and general purpose local governments are considered primary governments. Under what circumstances a special purpose government would be considered a primary government?  

Q: The GASB indicates that economic condition is composed of three components.

The GASB indicates that economic condition is composed of three components. Identify and define the three components of economic condition.

Q: Under the hierarchy of GAAP, what sources of accounting principles have

Under the hierarchy of GAAP, what sources of accounting principles have the most authority for state and local governments, federal government entities, and nongovernmental entities? Where do accounta...