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1.Explains the importance and role of the business fund (business activities) in government entities.
2. How company fund accounting (business activities) compares to accounting for a for-profit company.
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- What type of organization primarily offers tax compliance, auditing, and consulting services? A. corporations B. public accounting firms C. governmental entities D. universitiesV6. What is the entity in charge of creating and ensuring accounting standards for government organizations? Do you understand that government accounting standards offer some benefit to users of financial statements? Explain Distingue entre fondos gubernamentales y fondos de propietario Name and explain the two types of owner funds.Describe the primary characteristics for governmental and not-for-profit entities. How does this differ from the primary characteristics for business organizations? Can you explain how budgetary accounting contributes to achieving budgetary control over revenues and expenditures for governmental entities and not-for-profit entities please
- Discuss the various types of business-type funds used in governmental units and provide an example of when each is appropriate. Include how monitoring and reporting of business-type funds is similar and how it differs from the same functions in a corporation.Discuss the various types of business-type funds used in governmental units and provide an example of when each is appropriate. Pleae include how monitoring and reporting of business-type funds are similar and how it differs from the same functions in a corporation.Describe the primary characteristics for governmental and not-for-profit entities. How does this differ from the primary characteristics for business organizations? In your discussion, explain how budgetary accounting contributes to achieving budgetary control over revenues and expenditures for governmental entities and not-for-profit entities.
- Distinguish between government and not-for-profit organizations from business entities and describe how the distinction affects their accounting processes.Differentiate accounting for government and not-for-profit organization from a business enterprise.Examine the role of accounting theory in addressing the challenges of measuring and reporting the performance of non-profit organizations and government entities.
- Answer two questions please 1-What are the objectives of financial reporting of not-for-profit organizations? 2-Which fund category uses modified accrual basis of accounting? What are the recognition rules of revenues and expenditures under modified accrual basis of accounting?187. Which of the following funds should be reported as part of local government's governmental activities column in its government-wide statements? a. Debt service b. Agency c. Private-purpose trust. d. Pension trust. 188. A nongovernmental not-for-profit organization's statement of activities is similar to which of the fol- lowing for-profit financial statements? a. Balance sheet. b. Statement of cash flows. c. Statement of retained earnings. d. Income statement.Accounting for Government and Non-Profit Organization