Answer to Question #170306 in Other for Fikir

Question #170306

Q1. Define the term Fund in arbitrary and in the fund accounting.

Q2.Discuss classification of Not for Profit Organizations (NFP) In terms of objectives and Ownership. 

Q3.Distingush similarities and differences between Profit making & Not for Profit Organizations in terms of accounting perspectives.

Q4. Differentiate the responsibilities of Financial Accounting Standard Board & Governmental Accounting Standard Board (FASB vs GASB).

Q5.Write the basic objectives of financial reporting for Government & Not for profit Making Organization.

Q6.Identify the possible common types of financial reports of governmental entities and describe the objectives of each report.

Q7.Write elements (sections) consists under Comprehensive Annual Financial Report (CAFR).

Q8.Write the five combined statements that comprise the GPFS and that must be included in the financial section of a CAFR.

Q9.Differentiate Fund & Account Groups.

Q10. Write the major types of funds and their elements and discuss each.

Q11.Write types of Account groups.

Q12.Differentiate which funds use Modified Accrual basis of Accounting & which funds use Accrual basis of accounting.

Q13.List and discuss briefly inter-fund transfer and transactions.

Q14.How would be recorded when the governmental unit is acquired fixed assets and when fixed assets are received donated fixed assets?

Q15.Write the main types of revenue sources for General Fund.



1
Expert's answer
2021-03-09T03:22:34-0500
Dear Fikir, your question requires a lot of work, which neither of our experts is ready to perform for free. We advise you to convert it to a fully qualified order and we will try to help you. Please click the link below to proceed: Submit order

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be the first!

Leave a comment

Ask Your question

LATEST TUTORIALS
New on Blog
APPROVED BY CLIENTS