Question: Explain why special items are sometimes referred to as one-shot revenues. Why are they not reported with other revenues? Review 10 governments General Fund financial

Explain why special items are sometimes referred to as “one-shot” revenues. Why are they not reported with other revenues? Review 10 governments’ General Fund from the Internet or other sources. Do they report special items? If so, identify the government and explain the nature and amount of each special item.

Step by Step Solution

★★★★★

3.38 Rating (170 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

A special item as defined by GASB Statement No 34 is an ev... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

342-B-A-G-F-A (4228).docx

120 KBs Word File

Students Have Also Explored These Related Accounting Questions!

Explain why equity accounting is sometimes referred to as 'one-line consolidation'.

Explain why the skin is sometimes referred to as the integumentary system?

Why are money market securities sometimes referred to as cash equivalents?

Explain why special items are sometimes referred to as one-shot revenues. Why are they not reported with other revenues? Review 10 governments General Fund financial statements from the Internet or...

Explain why special items are sometimes referred to as "one-shot" revenues. Why are they not reported with other revenues? Review five governments' general fund financial statements from the Internet...

can someone please help me solve this? thank you. Statement of revenues expenditures, and Unassigned fund balance, 35 activities, 27 Codiflcation of Govermensal Accownting Governmental Accounting...

please answer all 1-45 and I will upvote immediately! thank you so much! TRUE/FALSE - Write ' T if the statement is true and ' F if the statement is false. 1) Government-wide statements are prepared...

ZZZZ Best Company, Inc. ZZZZ Best Company, Inc. On May 19, 1987, a short article in the Wall Street Journal reported that ZZZZ Best Company, Inc., of Reseda, California, had signed a contract for a...

3x1-X2 (E) 1. Let T : R? R be the linear transformation defined as T 2x1 + x2 %D -X1 - X2 (a) Find its matrix representation. (b) Find T(0). (c) Find T-(0). 1 (d) Find T-

Q1: A surgeon set up a clinic in a distant rural centre. The business was closed after six months. Identify four possible causes for the failure .

Which of the following techniques make heterogenous cash flows comparable? Choose two. Choose all applicable answers. Discounting techniqueCompounding techniqueSignaling techniqueOperational technique

describe fixed-income market segments and their issuer and investor participants

Amir, who is single, retired from his job this year. He received a salary of $25,000 for the portion of the year that he worked, tax-exempt interest of $3,000, and dividends from domestic...

What amount, if any, must be included in gross income by the following taxpayers? a. Ann received $2,000 from her insurance company when her automobile which cost $3,000 was stolen. b. Barry received...

USA Corporation hired Jesse to install a computer system for the company and paid him $8,000 for the work. USA soon realized that there were problems with the system and asked Jesse to refund the...

Laura Martin, an equity research analyst presents her DCF valuation analysis of Cox Communications as of March 1999 to you. She uses an explicit forecast of 10 years (1999-2008), and a terminal value...

Ying Import has several bond issues outstanding, each making semiannual interest payments. The bonds are listed in the following table. Bond, Coupon Rate, Price Quote, Maturity, Face Value Bond 1,...

Mathematics Measures of position for ungrouped data Activity 1 Activity 2 V. Evaluation VI. Additional Readings Hello tutors, please add a brief explaination to your answer so that I can understand...