The financial reporting of Public sector is unique but not too far of a difference with the
Fantastic news! We've Found the answer you've been seeking!
Question:
The financial reporting of Public sector is unique but not too far of a difference with the corporate financial reporting, Explain with example FIVE (5) similarities of financial reporting of Public sector and corporate financial reporting. Explain with example FIVE (5) differences of financial reporting of Public sector and corporate financial reporting?
Expert Answer:
Answer rating: 100% (QA)
Private Sector The private sector refers to organizations that are not governmentowned and the goods and services provided by organizations outside of the government Examples of private sectors Compan... View the full answer
Posted Date:
Students also viewed these accounting questions
-
Briefly summarize the GAAP for the financial reporting of operating loss carrybacks and carryforwards.
-
How are budget results shown in the financial reporting of a state or local government?
-
Which of the following statements regarding the financial reporting of agency funds is not true? A. Fiduciary activities are reported only in the fiduciary fund financial statements. B. Agency fund...
-
Santa's Helpers Ltd estimates its income taxes at 35% of pre-tax income. For the quarter ended September 30, pre-tax income was $200,000. Prepare the journal entry to record the estimated income...
-
For the prior three years, sales for National Beverage Company have been $21,962,000 (2007), $23,104,000 (2008), and $24,088,000 (2009). The company uses the prior two years average growth rate to...
-
A summary of the December 31, 2013 balance sheet of Masonite Tires follows: On January 1, 2014, Masonite purchased 2,000 (20 percent of the outstanding common shares) shares of Bingo Boots for...
-
The Plantaganet Company is a large conglomerate that has 40 divisions. Division X wants to buy a component for its final product and receives bids from separate external suppliers of f500 and f550....
-
Clark & Taylor is an Internet advertising agency. The firm uses a job cost system in which each client is a different job. Clark & Taylor traces direct labor, software licensing costs, and travel...
-
Your utility company charges 11 cents per kilowatt-hour of electricity. Complete parts (a) and (b) below. a. What is the daily cost of keeping lit a 150-watt light bulb for 14 hours each day? b. How...
-
Case 1: 1-Winston Tremblay, engineer and expert programmer, is very concerned about his next personal income tax return for the 2023 tax year. He is providing you with the following information so...
-
(1 point) Take the Laplace transform of the following initial value and solve for Y(s) = L{y(t)}: {sin(t), < <1 0, y" +4y= Y(s) = Now find the inverse transform to find y(t) = = Hint: write the right...
-
If the dollar contribution margin per unit is increased by 10%, total fixed cost is decreased by 20%, and all other factors remain the same, what will the outcome be for operating income?
-
Pharoah Burgers operates and franchises fast-food restaurants specializing in grilled hamburgers and chicken sandwiches. The 2018 and 2019 income statements are as follows (in $000s): Year Ended...
-
Read DeCSS Code on the Internet; Is it Protected Speech? By: G. Keith Roberts Do you agree that computer code and programs can merit protection under First Amendment? Why? DeCSS Code on the Internet:...
-
(Shortest Maximum Edge Problem) In the shortest path problem, we defined the length of a path as the sum of the edges' lengths: L(P) := l(e). CEP This was useful for finding the shortest route in...
-
A number of limits arising from the strict separation of judicial power have been recognized at the Commonwealth level. The existence and scope of these limits reflect the mix of political and legal...
-
BAK Corp. is considering purchasing one of two new diagnostic machines. Either machine would make it possible for the company to bid on jobs that it currently isn't equipped to do. Estimates...
-
According during to the IRS, individuals filing federal income tax returns prior to March 31 received an average refund of $1,088 in 2018. Consider the population of "last-minute" filers who mail...
-
If you had the financial capacity to be a significant philanthropist, would you focus your giving on reducing world poverty or on addressing social problems in your own country? Explain your answer.
-
One year ago the exchange rate between Polish zloty and the U.S. dollar was \(\mathrm{Z} 3.8000 / \mathrm{S}\). Since then the zloty has fallen \(14 \%\) against the dollar. Price levels in the...
-
On January 12, 2010, a 7.0 earthquake struck Haiti, leveling thousands of homes, cutting off electricity and telephone service, killing thousands, and leaving thousands more homeless and destitute in...
Study smarter with the SolutionInn App