Questions from Accounting for Government and Non-Profit

Q: What special problems do governments face in measuring the income taxes associated

What special problems do governments face in measuring the income taxes associated with a particular year?

Q: Which of the following would be least likely to be classified as

Which of the following would be least likely to be classified as a city's general capital assets? a. Roads and bridges b. Electric utility lines c. Computers used by the police department d. Computers...

Q: What distinguishes moral obligation bonds from other types of debt? Why

What distinguishes moral obligation bonds from other types of debt? Why would one government assume a moral obligation for another government's bonds?

Q: Why are bond ratings of vital concern to bond issuers?

Why are bond ratings of vital concern to bond issuers?

Q: What is conduit debt? Who issues debt through these conduits?

What is conduit debt? Who issues debt through these conduits? Why are governments required to report it only in notes to their financial statements, not on their balance sheets?

Q: In what two basic financial statements should a government report its fiduciary

In what two basic financial statements should a government report its fiduciary funds? On what basis of accounting should they be prepared?

Q: What are investment pools? Why might a government maintain an investment

What are investment pools? Why might a government maintain an investment pool? On what basis are the assets measured and reported?

Q: What is the rationale for the requirement that only resources held for

What is the rationale for the requirement that only resources held for the benefit of parties other than the government itself can be accounted for in a fiduciary fund?

Q: As a general rule, when should a government recognize a fiduciary

As a general rule, when should a government recognize a fiduciary fund liability to the beneficiaries of the fund? More specifically when should a government that collects taxes on behalf of another g...

Q: What are permanent funds used to account for? In light of

What are permanent funds used to account for? In light of the requirement that governmental funds can recognize revenues only when they are measurable and available, how can a permanent fund ever reco...