Describe GASB requirements for accounting for Investment Trust Funds. Include (a) A discussion of when the use
Question:
Describe GASB requirements for accounting for Investment Trust Funds. Include
(a) A discussion of when the use of investment trust funds is appropriate;
(b) The investments to be included and excluded;
(c) The basis at which investments are to be reported;
(d) Reporting of realized and unrealized gains and losses on investments; and
(e) Financial reporting (i.e., financial statements).
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A Investment Trust Funds are an appropriate classification for governments that administer multigove...View the full answer
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Related Book For
Essentials of Accounting for Governmental and Not-for-Profit Organizations
ISBN: 978-0073527055
10th Edition
Authors: Paul A. Copley
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