Discuss various other government departments and their functions in cbsa/cfia

Q: 6) Which pronouncements have the highest level of authority for state and local governments? A)…

A: GASB statements means Governmental Accounting Standards Board Statements. These statements are…

Q: Why have accountability and control been so important in the traditional accounting for state and…

A: The GASB is the board that provides the guideline to the governmental units about proper accounting…

Q: What are some of the functions of a state board of public accountancy?

A:

Q: Differentiate between the two sets of financial statements produced by state and local governments.

A: GASB:   GASB stands for Governmental Accounting Standards Board (GASB) is an independent private…

Q: What the main functions of the Commerce Commission? Please explain and illustrate each function.

A: Commerce commission is the agency of government with the responsibility for imposing legislation…

Q: Name some of the governments’ regulatory bodies and discuss their role in disclosure.

A: Some government regulatory bodies are: Australian Securities and Investments Commission(ASIC):…

Q: Discuss the federal government’s contracting programs.

A: Introduction: Contractors are allowed under federal government contracts to set aside certain…

Q: which concerns with revenue and disbursement of government such as central government , state…

A: Finances are referred as the management of money from investing activities, borrowing, lending,…

Q: How have users’ needs impacted the development of accounting principles for state and local…

A: Accounting principles refers to the set of rules and regulations which companies must follow in…

Q: What databases are appropriate for government accounting?

A: The term "Government Accounting" refers to recording & analyzing all income , expenses &…

Q: What are the key sources of revenues among the federal, state, and local governments? What are the…

A: Federal Government revenue comes from individual income taxes, corporate income taxes, and payroll…

Q: How the hierarchy of U.S. generally accepted accounting principles for state and local government…

A: Financial reporting issues Financial reporting involves communicating the results and information…

Q: Provide example of an internal service funds, describe the services provided and received within the…

A: Introduction:- An Internal Service Fund is one that primarily offers benefits, commodities, or…

Q: Describe the Bureau of Internal Revenue.

A: Bureau of Internal Revenue is an institution which acts as an agent to the Finance department and…

Q: you consider Government Accounti

A: Governmental accounting keeps strict control over resources while also categorizing operations into…

Q: Briefly describe the service type activities that most general purpose governments perform?

A: Governmental accounting standard board is established in United States, used by the state and local…

Q: What is the purpose of the capital projects fund, debt service fund, and permanent fund. Please…

A: The creation of a fund is mostly done to pool up resources required for a particular purpose. funds…

Q: Government-wide financial statements make a distinction between program revenues and general…

A:

Q: Preparation of government-wide statement of activities

A: Here wehave to understand that the property tax and sales tax is the general government revenue…

Q: Discuss the government structure of the Ghana Revenue Authority

A: The Ghana Revenue Authority: The task of assessing, collecting and accounting for tax revenue in…

Q: Explain the makeup of a primary government and its relationship to component units and related…

A: The government uses a different way to report their financial statements than the private sector…

Q: What statutes does the Commerce Commission have oversight of?

A: In the year 1986, a commission known as commerce commission was established with an aim to regulates…

Q: The GIFMIS interfaces with a number of systems and sub-systems. A number of these systems and…

A: E-Monitor (Non-Tax Revenue-MoF) Non-Tax Revenue is that the revenant financial gain attained by the…

Q: Authoritative GAAP for state and local governments is divided into two categories with the first…

A: GAAP:   It stands for Generally Accepted Accounting Principles. They are established guidelines to…

Q: scribe the reporting of Board Designated resources.

A: Board-designated funds refer to those funds or assets which are restrictions free from the donor's…

Q: Which of the following is true regarding government-wide financial statements? a. Internal service…

A: Internal service funds are normally classified as governmental types activities. Component units are…

Q: The Federal Accounting Standards Advisory Board (FASAB) recommends accounting principles and…

A: Financial accounting standards board (FASB): This is the organization which creates, develops, and…

Q: What are the basic financial statements that a state or local government now produces?

A: The following are the basic financial statements that a state or local government now produces:…

Q: What does the management’s discussion and analysis (MD&A) normally include? Where does a…

A: Management Discussion and Analysis (MD&A):   Management Discussion and Analysis (MD&A) is…

Q: Which of the following items are included in the governmental activities column of the government-…

A:

Q: Why accounting for budgetary accounts, Accounting for Disbursement, Revenue Receipts and other…

A: The government will run its operations for the welfare of the people. The government also will try…

Q: Answer the following multiple-choice questions. GAAP stands for:(a) governmental auditing and…

A: Definition: Generally Accepted Accounting Principles (GAAP): These are the guidelines necessary to…

Q: Government-wide financial statements make a distinction between program revenues and general…

A: The correct answer is 1. Program revenues are offset against the expenses of a specific function;…

Q: A primary government can be either a general purpose government or a special purpose government.…

A: Difference between Primary purpose government and specific purpose government: General Purpose…

Q: Why does a government determine the net expenses or revenues for each of the functions within its…

A: Revenue: Revenue refers to the income received from the business activity or sale of the output,…

Q: What does the word stewardship mean and an example of what federal government stewardship?

A: Stewardship is a value that encompasses effective resource planning and administration. Stewardship…

Q: government

A: Answer: Government accounting: Government accounting is accounting methods that are being followed…

Q: hat are the requirements for government- wide statements on CAFR?

A: Step 1 Governmental financial statements are comply with governmental accounting standards and…

Q: What is a basic financial statement that is required for federal agencies?

A: Financial statement refers to those statements which are prepared through the business at the end of…

Q: Provide in full the meaning of these abbreviations and tell briefly how they interface with the…

A: Accounting Information system is a set of components used for gathering, making, storing, preparing,…

Q: Are the officers of the Local Government Unit internal or external users?why? Differentiate internal…

A: Internal Users Internal users of financial information are those people within an entity who use the…