Why may a governments year-end results, reported in accordance with generally accepted accounting principles, not be readily
Question:
Why may a government’s year-end results, reported in accordance with generally accepted accounting principles, not be readily comparable with its legally adopted budget?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 57% (7 reviews)
A governments yearend results reported in accordance ...View the full answer
Answered By
Mahesh G
I have more than 7 years of experience in teaching physics, mathematics and python programming to more than 600 students including both online and offline tutoring.
I follow the following 7 step fundamental approach towards tutoring.
1. Curiosity, scope, enlightenment of the topic in hand.
2. Problem Definitions and elaboration.
3. Requisite mathematics, analytical abilities and quantitative
aptitude.
4. Preparing Algorithms for problem statement.
5. Concepts with analogies and building algorithm.
6. Introspection and improvising.
7. Daily class wise Cheat sheets(its not cheating) for consolidation.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Government and Not for Profit Accounting Concepts and Practices
ISBN: 978-1118155974
6th edition
Authors: Michael H. Granof, Saleha B. Khumawala
Question Posted:
Students also viewed these Accounting questions
-
In performing an audit in accordance with Generally Accepted Government Auditing Standards, the auditors are required to issue an additional combined report on compliance with laws and regulations...
-
The mass m in Fig. 1 is connected to a spring-damper support through a rigid pulley of radius r and polar moment of inertia J about an axis perpendicular to the disk's centre O. Assume that the...
-
Generally accepted accounting principles should be applied consistently from period to period. However, changes within a company, as well as changes in the external economic environment, may force a...
-
Calculate the current and quick ratio at the end of eachyear.Note: Round your answers to 1 decimal place.b. Assuming a 365-day year for all calculations, compute thefollowing:i. The collection pe...
-
If x is a binomial random variable, compute p(x) for each of the following cases: a. n = 5, x = 1, p = .2 b. n = 4, x = 2, q = .4 c. n = 3, x = 0, p = .7 d. n = 5, x = 3, p = .1 e. n = 4, x = 2, q =...
-
How can a job applicant conduct a successful job search without leaving home?
-
Outline the essential steps in managing crises in projects.
-
To promote computer education, a leading computer manufacturer donates $4 million to the Kerrville Independent School District. The donor stipulates that the district is to establish an endowment,...
-
The material cost for a concrete retaining wall is estimated to be $250,000 based on the national average costs provided in the unit cost section of RS Means. This amount includes the material cost...
-
SunNet is a residential Internet Service Provider (ISP) in the central Florida area. Presently, the company operates one centralized facility that all of its clients call into for Internet access. To...
-
What are allotments? What purpose do they serve?
-
The variances reported in the nal budget-to-actual comparisons incorporated in the nancial statements of many governments may be of no value in revealing the reliability of budget estimates made at...
-
A subset S of a linear space is a convex cone if and only if x + y S for every x, y S and x, +
-
Give Me the Periodic Payments of the following General Annuities. 1. Monthly payment of the future value of P 50,000 for 1 year with an interest rate of 10% compounded quarterly. 2. Quarterly payment...
-
Consider the following three bond quotes: a Treasury bond quoted at 106.8125, a corporate bond quoted at 96.45, and a municipal bond quoted at 100.85. If the Treasury and corporate bonds have a par...
-
In order to buy a house, Ryan Anderson is going to borrow $180,000 today with a 4.25 percent nominal annual rate of interest. He is going to make monthly payments over 20 years. Assume full...
-
A pension plan is obligated to pay out $1 million at the end of year 2 and $3 million at the end of year 5. What is the duration if the interest rate is 10% annually?
-
Harrison Clothiers' stock currently sells for $24 a share. The stock just paid a dividend of $1.20 a share. The dividend is expected to grow at a constant rate of 12 percent a year. What stock price...
-
Refer to the U.S. Army Corps of Engineers study of contaminated fish in the Tennessee River. The Corps of Engineers has collected data for a random sample of 144 fish contaminated with DDT. (The...
-
14. In testing the existence assertion, an auditor ordinarily works from the a. Financial statements to the accounting records. b. General journal to the general ledger. c. Supporting evidence to the...
-
a. Assume that Pennant and the Wood Group, two operators of nursing homes, have fiscal years that end at different timessay, one in June and one in December. Would this fact cause any problems when...
-
Transactions related to purchases and cash payments completed by Winston Cleaning Services Inc. during the month of December 2008 are as follows: Dec. 1. Issued Check No. 57 to Liquid Klean Supplies...
-
Pet Groom Inc. has $685 in the May 1 balance of the accounts payable control account. Transactions related to purchases and cash payments completed by Pet Groom Inc. during the month of May 2008 are...
-
After Western Assay Services Inc. had completed all postings for October in the current year (2008), the sum of the balances in the following accounts payable ledger did not agree with the $37,450...
-
Factory overhead of $44,700 consists of Indirect labor of $21,900, Depreciation expense-Factory of $16,900, and Factory utilities of $5,900. a. Compute total manufacturing costs. b. Prepare a...
-
In Giannakakos et al. (2016), titled Using Video Modeling with voiceover Instruction plus feedback to train staff to implement direct teaching procedures, why do you think collecting data on the...
-
Presidio, Inc., produces one model of mountain bike. Partial information for the company follows: Required: 1. Complete Presidios cost data table. 2. Calculate Presidios contribution margin ratio and...
Study smarter with the SolutionInn App