Compare the use of accrual accounting in federal government financial reporting with the use of accrual accounting
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 69% (13 reviews)
Accrual accounting is incorporated within all the funds used by the federal gove...View the full answer
Answered By
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening.
My Expert Service
Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
4.40+
65+ Reviews
86+ Question Solved
Related Book For
Introduction to Governmental and Not for Profit Accounting
ISBN: 978-0132776011
7th edition
Authors: Martin Ives, Terry K. Patton, Suesan R. Patton
Question Posted:
Students also viewed these Accounting questions
-
Compare the use of actual cost to standard cost for inventory costing.
-
Compare the use of predetermined motion times for developing time standards instead of using time-study methods, and discuss the advantages and disadvantages.
-
IFRS usually requires the use of accrual accounting to fairly present income, if the cash receipts and disbursements method of accounting will clearly reflect taxable income, why does this method not...
-
Refer to the table below. Of the 36 possible outcomes, determine the number for which the sum Die 1 1 2 3 4 5 56 6 1 (1,1) (2,1) (3,1) (4,1) (5,1) (6,1) One can roll a sum of 9 in Die 2 2 3 4 5 (1,2)...
-
Select three table values from Table 14-2 and verify them using the formula TV = R / (1 + R) N - 1
-
The Flamingo Grill is an upscale restaurant located in St. Petersburg, Florida. To help plan an advertising campaign for the coming season, Flamingos management team hired the advertising firm of...
-
Consider the house price data in Table B.4. a. Fit a multiple regression model relating selling price to all nine regressors. b. Test for significance of regression. What conclusions can you draw? c....
-
Togos Sandwich Shop had the following long-term asset balances as of January 1, 2015: Togos purchased all the assets at the beginning of 2013 (3 years ago). The building is depreciated over a 10-year...
-
An authentic autographed Johnny Football has the following whole-number demand history by quarters over 3 years. For your convenience, assume that the sum of demands = 536; average demand = 44.67;...
-
Havingn read the BusinessTech article titled "IBM forecast beats estimates for n quarterly sales and earning". Consider the type of research that may n have led to this headline. Do you think it is...
-
What is the nature of the account Fund balance with Treasury? When is that account debited, and when is it credited?
-
Financial reporting of Social Security has been a controversial subject in the federal government. Cur-rent federal accounting standards require that liabilities be reported only for Social Security...
-
The risk-free rate of return, r RF , is 5%; the required rate of return on the market, r M , is 8%; and Schuler Company's stock has a beta coefficient of 1.5. a. If the dividend expected during the...
-
Astin Company has current assets of $82,530, total assets of $242,050, total net income of $58,240, current liabilities of $72,120, and total liabilities of $205,300. What isAstin Company's working...
-
How might you or others be negatively affected by false or incomplete information received through media?
-
Describe the importance of effective revenue cycle management for a provider's fiscal stability.
-
Accounting for salaries expense without using a reversing entry requires the following on the date of payment in the next period: Multiple choice question. compound entry that debits the expense and...
-
1. (10) An automobile mechanic is working on a poorly running engine in their shop. It is the dead of winter and the exhaust is connected to the outside via a rubber tube. The engine is idling and...
-
What are the (a) amplitude and (b) frequency of the oscillation shown in Figure P14.9? x (cm) AA 2 6 8 20 10 0 -10 -20- FIGURE P14.9 -1 (s)
-
For the following exercises, write the first four terms of the sequence. a n = 2 n 2
-
Identify and describe the major features of the Strategic Management model.
-
Consider the following alternatives: Use present worth analysis, an 8% interest rate, and an infinite analysis period. Which alternative should be selected in each of the two following situations? 1....
-
A problem often discussed in the engineering economy literature is the "oil-well pump problem"} Pump 1is a small pump; Pump 2 is a larger pump that costs more, will produce slightly more oil, and...
-
Three mutually exclusive alternatives are being studied. If the MARR is 12%, which alternative should be selected? Year A B -$20,000 -$20,000 -$20,000 +10,000 +10,000 +5,000 +10,000 2 +5,000 +5,000...
-
Milden Company is a merchandiser that plans to sell 4 1 , 0 0 0 units during the next quarter at a selling price of $ 5 9 per unit. The company also gathered the following cost estimates for the next...
-
How do organizational learning theories, such as the learning organization concept and knowledge management practices, contribute to sustained competitive advantage and organizational resilience in...
-
Harbert, Incorporated had a beginning balance of $12,000 in its Accounts Receivable account. The ending balance of Accounts Receivable was $10,500. During the period, Harbert collects $72,000 of its...
Study smarter with the SolutionInn App