Briefly describe the federal accounting standards regarding inventory and related property; property, plant, and equipment; and liabilities.
Answer to relevant QuestionsHow is depreciation handled in the federal government’s General Fund? How does it differ from depreciation in state and local government General Funds? What is the budgetary equation? Briefly describe the components of each side of the equation. Following are some basic budgetary accounts used in federal accounting: Other appropriations realized Unapportioned authority Apportionment Allotments— realized resources Commitments Undelivered orders— obligations, ...The Star Exploration Agency, a unit of the Space Department, was established by Congress to begin operations at the beginning of fiscal year 2014. Following are the agency’s transactions during October, its first month of ...Identify and briefly describe the major funds used internally by NFPOs.
Post your question