Annual budgetary comparison statements for A Governmental Units General Fund are shown in Illustrations. (a) Why do
Question:
(a) Why do the reported variances differ between these two statements?
(b) Why does the GASB require governments to include both original and revised budget data in a budgetary comparison statement?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (14 reviews)
a The variances in the two budgetary comparison statements are different because the basis of accoun...View the full answer
Answered By
Stephen ouma
I have worked with different academic writing companies such as wriredom, writerbay, and Upwork. While working with these companies, I have helped thousands of students achieve their academic dreams. This is what I also intend to do here in SolutionInn
4.90+
19+ Reviews
63+ Question Solved
Related Book For
Governmental and Nonprofit Accounting
ISBN: 978-0132751261
10th edition
Authors: Robert Freeman, Craig Shoulders, Gregory Allison, Robert Smi
Question Posted:
Students also viewed these Accounting questions
-
Generally accepted accounting principles require governments to include in their annual reports a comparison of actual results with the budget for each governmental fund for which an annual budget...
-
GASB 34 requires a budgetary comparison schedule for each governmental fund that has a legally adopted budget. What information does this budgetary comparison schedule present?
-
Are governmental fund financial statements sufficient for users seeking information about budgetary control and operational accountability? If so, why? If not, what type of information is needed to...
-
How can we measure a security's contribution to the risk of the market portfolio?
-
Which shape is likely to need more material for a critical mass, a cube or a sphere? Explain.
-
The IR spectrum of propanoic acid (Fig. 2.17) indicates that the absorption for the O-H stretch of the carboxylic acid functional group is due to a hydrogen-bonded form. Draw the structure of two...
-
Using MATLAB, solve the simple pendulum equations, Eqs. (E.1)-(E.3), given in Example 13.6, for the following data: \[\omega_{0}=0.1, \quad \theta(0)=0.01, \quad \dot{\theta}(0)=0\] Data From Example...
-
The balance sheet data of Brown Company at the end of 2014 and 2013 follow. Land was acquired for $30,000 in exchange for common stock, par $30,000, during the year; all equipment purchased was for...
-
How does remote work or virtual collaboration affect employees' sense of connection and commitment to an organization ?
-
1. Elaine is a chemist. (C) 2. Nancy is not a sales clerk. (S) 3. Neither Wordsworth nor Shelley was Irish. (I) 4. Rachel is either a journalist or a newscaster. (J, N) 5. Intel designs a faster chip...
-
Explain how the budgetary fund balance account is used. What effect does recording the budget have on the GAAP-based financial statements? How is Budgetary Fund Balance reported in the General Fund...
-
Explain the purpose, nature, and effect of the entry re-establishing encumbrances in the accounts at the beginning of a new year.
-
A rigid steel tank of mass 2.5 kg contains 0.5 kg R-410a at 0Cwith a specific volume of 0.01m 3 /kg. The system heats up to the room temperature, 25C. Find the process heat transfer and the entropy...
-
On 20 October 2023, Jude walked past a child JayJay whom he did not know previously, and because he was in a hurry to catch the train to work, Jude could not stop to rescue Jayjay who later suffered...
-
Research 2 Corporate Travel Agency / Travel Management Company (1 local (Philippines), 1 international) with the following details I. Company Name and Background Name, Logo, Location, Background II....
-
What are the consequences of private sector organizations providing services that are traditionally within the public sector such as housing and transportation?
-
Please go to the following site and read about an interesting punitive damages case in California, related to the tobacco industry:...
-
How, in your opinion, do the legal theories we study in Jurisprudence help us to resolve actual legal problems that confront legal practitioners in their daily work? Illustrate your answer by...
-
Determine whether the doubly infinite improper integral converges and, if so, evaluate it. Use definition (2). 00 -00 e-lx dx
-
Fahrad Inc. sells all of its product on account. Fahrad has the following accounts receivable payment experience: Percent paid in the month of sale .........10 Percent paid in the month after the...
-
Show that the Virial Theorem is correct for a particle of mass \(m\) free to move in a plane, and attached to one end of a Hooke's-law spring exerting the force \(F=-k r\), if the particle is in (a)...
-
Interact CaseFASAB. Examine the Federal Accounting Standards Advisory Boards Web site at www.fassab.gov and prepare a brief report about its mission and structure and compile a list of organizations...
-
Research CaseGovernmental or Not-for-Profit Entity? In partnership with Jefferson County and the Mound City Visitors Bureau, Mound City recently established a Native American Heritage Center and...
-
Multiple Choice. Choose the best answer. 1. Special purpose governments differ from general purpose governments in that special purpose governments: a. Provide a single function or limited range of...
-
a) Consider two aircraft A and B flying at a constant altitude, A travelling due north at 120 ms-1 and B travelling 30 east of north, written N 30 E, at 200 ms-1. Determine, by scaled graphical...
-
Wendy runs a factory that makes stereo tuners. Each S100 takes 6 ounces of plastic and 4 ounces of metal. Each FS20 requires 3 ounces of plastic and 6 ounces of metal. The factory has 252 ounces of...
-
If the high temperature steam has a temperature of 2 9 7 . 7 K and the low temperature reservoir has a temperature of 1 4 7 . 8 K what is the carnot efficiency of this process
Study smarter with the SolutionInn App