Question: Why may a government s year end results reported in accordance with
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?
Answer to relevant QuestionsThe variances reported in the ‘‘ﬁnal’’ budget-to-actual comparisons incorporated in the ﬁnancial statements of many governments may be of no value in revealing the reliability of budget estimates made at the ...1. Appropriation budgets are typically concerned witha. The details of appropriated expendituresb. Long-term revenues and expendituresc. Current operating revenues and expendituresd. Capital outlays2. Which of the ...The Disability Research Institute receives its funding mainly from government grants and private contributions. In turn, it supports research and related projects carried out by universities and other not-for-proﬁts. Most ...Shown below is an excerpt from a note, headed Budgets, from the City of Raleigh, North Carolina, annual report for the ﬁscal year ended June 30.1. The note distinguishes between the “budget ordinance” and the “more ...Your government is permitted to amend the budget even after the end of the year. When presenting the ﬁnal actual-to-budget comparisons, is it permitted to include the amendments that were adopted after the year-end?
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