What is the measurement focus and basis of accounting

Assignment Help Accounting Basics
Reference no: EM13136071

Under the reporting model required by GASB Statement 34, fund statements are required for governmental, proprietary, and fiduciary funds. Government-wide statements include the Statement of Net Assets and Statement of Activities. Answer the following question related to the reporting model:

What is the measurement focus and basis of accounting for: (a) governmental fund statements, (b) proprietary fund statements, (c) fiduciary fund statements, and (d) government-wide statements? 

Reference no: EM13136071

Questions Cloud

Probability that freshmen will not return for sophmore year : A random samle of 12 college freshmen is obtained. The probability that exactly two of the 12 freshmen will not return for their sophmore year is?
What is the composition of ab2 by mass : A substance, A2B, has the composition by mass of 60% A and 40% B. What is the composition of AB2 by mass?
Total present value of the proposed project : By reducing labor and other operating costs, the machine would provide annual cost savings of $59,000. The company requires a minimum pretax return of 12% on all investment projects. The net present value of the proposed project is closest to:
Illustrate discount factor did you use to discount : What discount (interest rate) factor did you use to discount future dollars to today's dollars and why? There is no right or wrong answer and even actuaries have to adjust their numbers annually at times.
What is the measurement focus and basis of accounting : Under the reporting model required by GASB Statement 34, fund statements are required for governmental, proprietary, and fiduciary funds. Government-wide statements include the Statement of Net Assets and Statement of Activities. Answer the follow..
Examine critically the health of the economy : Be able to examine critically the health of the economy as a whole through the analysis of major economic variables and advise on likely policy alternatives
What mass of reactant remains : If .40 mol of H2 and .15 mol of O2 were to react as completely as possible to produce H2O what mass of reactant remains?
Write an essay in french : write an essay in French
Determine number of equivalent units of production : Direct materials are placed into the process at the beginning of production. Determine the number of equivalent units of production with respect to direct matrials and conversion cost.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Compute the net cash from operating activities

Glitter Girl, Inc. recognized net income of $150,000 including $26,000 in depreciation expense.

  Funzy report as a promotional expense for coupons

During the last month of 2009, the first month of the offer, Funzy sold 12 million boxes of Wheatos and 2.4 million of the coupons were redeemed.

  University to avoid accounting recognition

Which of the following is not a condition that would permit a public college or private college or university to avoid accounting recognition of the value of its collections of art, historical treasures, and similar assets?

  Declaration and issuance of the stock dividend

A company with 100,000 authorized shares of $4 par common stock issued 50,000 shares at $9. Subsequently, the company declared a 2% stock dividend on a date when the market price was $10 a share. The effect of the declaration and issuance of the s..

  Calculate the manufacturing cost markup needed

Calculate the manufacturing cost markup needed to obtain a target profit of $100,000.

  First payment from an annuity

This year Larry received the first payment from an annuity that promises to pay him $3,000 per month for the rest of his life. The IRS tables indicate that given Larry's age, he should expect to receive 310 monthly payments.

  Compute the overhead controllable variance

Earth Company expects to operate at 86% of its productive capacity of 52,000 units per month. At this planned level, the company expects to use 26,832 standard hours of direct labor.

  Computing the projected accounting profit

Sam Jones is a pharmacist earning $90,000 per year and he decided whether to purchase a pharmacy and become manager of a business that generates revenue of $500,000 each year.

  Calculate the cost per unit of cost driver for each cost

Pumpkin Bags (PB) is a desiger of high quality backpacks and purses. Each design is made in small batches. Each spring, PB comes out with new designs for the backpack and for the purse.

  Company acquistion-purchase and pooling methods

Axel Corporation acquires 100% of the stock of Wheal Company on December 31, Year 4. The following information pertains to Wheal Company on the date of acquisition:

  Break even analysis to produce or sell the new product

George Fine, owner of Fine Manufacturing, is considering the introduction of a new product line. George has considered factors such as costs of raw materials, new equipment, and requirements of a new production process.

  Preparing the stockholders equity section

The paid-in capital in excess of par value on the preferred stock was $12,000. Retained earnings at December 31, 2010 was $172,000. Prepare the stockholder's equity section of the balance sheet, as of December 31, 2010. If need be, prepare in an E..

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!

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