Describe what you understand by the term fund accounting, Financial Accounting

Question:

(a) ‘Public accounting is often called fund accounting'.

Describe what you understand by the term ‘fund accounting'.

(b) "What's the difference between national defence and pizza?", asked your public finance professor.

Required:

(i) Distinguish between a public good and a private good.

(ii) Describe your understanding of the ‘market failure' phenomenon.

(iii) What is the free-rider problem?

(c) Public accounting is said to "mirror" the budget. Explain.

(d) The role of the Public Expenditure Management System (PEMS) is to allocate and use resources responsively, efficiently and effectively'.

Briefly describe the above statement with particular emphasis on the highlighted terms. Your may illustrate your answer with examples.

Posted Date: 11/21/2013 1:31:42 AM | Location : United States







Related Discussions:- Describe what you understand by the term fund accounting, Assignment Help, Ask Question on Describe what you understand by the term fund accounting, Get Answer, Expert's Help, Describe what you understand by the term fund accounting Discussions

Write discussion on Describe what you understand by the term fund accounting
Your posts are moderated
Related Questions
Present Value of a Bond 1. Assume that you wish to purchase a 20 year bond that has a maturity value of $1,000 and makes semiannual interest payments of $40.  If you require a

This lab assignment will correspond to developing a cash flow budget with an operating loan. There is on lab exercise listed below. Additionally, there are two assignment questions

#questionBroadway Scripts is a service-type enterprise in the entertainment field, and its manager, Joe Numbers, has only a limited knowledge of accounting. Joe prepared the follo

Stock Rights - Stock rights are rights issued to stockholders of a CORPORATION which entitle them to purchase new shares of stock in the corporation for a stated price that is freq

Find out the Current dividend per share:   Data Stock price = $ 65 Return = 11% Dividend Yield =  11/ 2 = 5.5 % (given) Formula: Dividend in one year = divid

Q. What are the Organization Expenditures? Organization Expenditures -Costs of organizing a business or trade or for profit activity before it begins active business. A taxpaye

WHAT IS dEPRECIATION?

hello, i have got my answer, but i don''t know the PART C why doesn''t calculate "working capital: 60000"?????? can not find match number in the solution table

FV of Bond 20000, CR 0.045, MR 0.059, Remaining payments 32. Answer

Level of detail Financial accounting reports provide users with a comprehensive overview of performance and position of business for a period. Consequently, information is aggr