User Account

All Pages

Explain the modified accrual basis of accounting

Assignment Help Accounting Basics
Reference no: EM132045539

Questions -

1. Identify and briefly describe the three broad categories of service activities that most general purpose governments perform.

2. Describe how the reporting objectives for government-wide and governmental fund financial statements are different.

3. Explain the modified accrual basis of accounting. Why is it used for governmental fund financial statements?

4. What are the three categories of funds prescribed by GASB standards and which fund types are included in each? Which basis of accounting is used by each category?

5. What is the primary reason that governmental entities need to use funds for financial reporting? How are funds established?

Reference no: EM132045539

Questions Cloud

Explain the concept of return on investment : Explain the concept of return on Investment(ROI) and the two different approached to measuring ROI.
What is the purpose of the shareholders equity section : What is the purpose of the shareholders equity section of the balance sheet? Why do companies issue a dividends
How descriptive or detailed instructions are : Level of detail: How descriptive or detailed they instructions are. Conversely, this could be poorly detailed or developed.
Calculate the residual income for the tuxedo division : The Tuxedo Division of Shamus O'Toole Company had operating income last year of $152,250,000, Calculate the residual income for the Tuxedo Division
Explain the modified accrual basis of accounting : Explain the modified accrual basis of accounting. Why is it used for governmental fund financial statements
Developing an outline helps you brainstorm for ideas : Developing an outline helps you brainstorm for ideas and gather and collate your points into a comprehensive organization.
What is the benefit for the furniture division : Suppose that the two divisions agree on a transfer price of $35. What is the benefit for the Furniture Division? For the Motel Division
What is strategic management : What is strategic management? What are the main benefits associated with its main attributes?
Identifies a policy prescription to address the problem : Policy Opinion Editorial: each student will write a 500 word letter to the editor that documents important societal problems at the local, state or Federal.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd