Which of the following would not be reported as required supplementary information? A.) Budget B.) Details of pension actuarial valuations C.) The condition of infrastructure D.) The GFOA certificate of achievement (if earned)

Q: Which of the following is not a requirement for expense reimbursements to be an accountable plan?…

A: Reimbursement plan complies with IRS regulations, according to IRS regulations, a reimbursement plan…

Q: The modified accrual foundation of accounting is used by which fund category? Under the modified…

A: Introduction: Another accounting approach that combines accumulation premise bookkeeping and cash…

Q: Which of the following is true about the treatment of estimates under IFRS 1 for a first-time…

A: IFRS stands for International Financial Reporting Standards. It is a set of accounting standards…

Q: Which of the following funds does not get consolidated into the Governmental Activities section of…

A: Introduction: Taxes, intergovernmental income, and other nonexchangeable earnings are used to fund…

Q: Use the following information to determine whether the Development Special Revenue and the Debt…

A: According to the GASB, a fund should be considered major if it meets any one of the following:The…

Q: Which of the following statements is true? O a. The principal of permanent funds are classified as…

A: Permanent Funds: It may be referred to as a fund wherein the principal amount isn't being utilized…

Q: Which trust fund has assets always equal to liabilities with never a fund balance. O a. Pension…

A: Capital projects funds are utilised for accounting the financial resources which is in turn used for…

Q: A variety of SUTA reports need to be filed with respective state governments. Which of the following…

A: Answer: Option c.

Q: w does a company determine if it should use an ABO, PBO, or VBO calculation? Is the determination…

A: ABO The estimated amount of a company's pension plan commitment at any one time is known as the…

Q: What is the entity in charge of creating and ensuring accounting standards for government…

A: The questions are answered below. Please note all questions are answered in English.

Q: Сapital Projects Fund Government-wide Special Revenue Internal Service Financial Statements Fund…

A: Solution:- Introduction:- The following different types of funds are Government Funds, Proprietary…

Q: Differentiate Fund Theory-Based Financial Statements from Fund Accounting-Based Financial Statements…

A: Note: “Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered…

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

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

Q: Emoluments, pensions and gratuities, as well as debt service charges are categorized asdevelopment…

A: First of all we need to understand the basic meaning of Development expenditure. Development…

Q: What costs necessitate the reporting of an expenditure by a governmental fund?

A: In a government fund, expenditures are recognised in the accounting period in which goods and…

Q: How to prepare financial statements for a government agency and non-profit organization?

A: Non-profit organization is an organization which works for the development of the society and not…

Q: How are internal service funds reported on government-wide financial statements?

A: A government-wide financial statement is a comprehensive summary of all the major government funds,…

Q: There are areas of differences between IFRS and GAAP definition recognition measurements allowing…

A: GAAP, or generally accepted accounting principles, is a U.S.-based organization. In accordance with…

Q: Explain the distinction/s between custodial funds and trust funds. What financial statements…

A:

Q: Donor-restricted contributions that have been given to a VHWO for the purpose of purchasing fixed…

A: Fixed Assets: It refers to the long-term assets having a useful life of more than a year which is,…

Q: Which of the following is not a fiduciary fund? a. Permanent fund b. Agency fund c. Investment trust…

A: Answer:   Option a

Q: In which of the following funds is it appropriate to record depreciation of capital assets?

A: The Capital Projects Fund is designed to account for the acquisition, construction, or improvement…

Q: Which fund category uses modified accrual basis of accounting? What are the recognition rules of…

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

Q: Explain the adjustments necessary to convert to a government-wide statement of activities, assuming…

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

Q: 5. an example for available for s

A: Available for sale (AFS) is a type of securities are purchased with the intention to be sold before…

Q: Who are "accelerated filers," exactly, and what criteria (such as annual revenue or staff count) are…

A: Accelerated Filers -                               Accelerated filers are U.S. public companies that…

Q: Introduction, Conclusion and Suggestion for Title: financing of goverment expenditure using defisit…

A: Solution- Introduction (a) Deficit financing Deficit funding, practice during which a government…

Q: Describe what factors contribute to the pension benefit obligation. Discuss the effect of the…

A: A projected benefit obligation (PBO) is an actuarial calculation of how much money a firm will…

Q: Explain the purpose of the tax credit for rehabilitation expenditures and describe the general…

A: Rehabilitation expenditure and Rehabilitation tax credit :        For buildings which are in…

Q: Which one of the following will be recorded when the encumbered purchase order is executed whole or…

A: Encumbrance is a term that is used to define the reservation of budget funds to be set aside in…

Q: rite the definition, recognition, measurement and derecognition of  GOVERNMENT GRANT.

A: Government grant:  It is the sum of the grant given to the business by the government that a…

Q: What are current IFRS standards for accounting for government grants?

A: The objective of this question is to understand the current International Financial Reporting…

Q: ALM (Asset Liability Management) is particularly critical for: Group of answer choices B. Trust…

A: ALM (Asset Liability Management) commonly used for managing the finacial risk.

Q: Complete the blank as appropriate: Governmental financial reporting focuses on stewardship and…

A: This was related to the reporting of the financial statement of the government entity.  The purpose…

Q: What benefits are derived from including the management’s discussion and analysis in state and local…

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

Q: Which of the following funds are classified as proprietary funds? Group of answer choices a.)…

A: The fund which is used to account for the business transactions are proprietary funds. These…

Q: In preparing GAAP-based financial reports, nonprofit organizations must present their expenses by…

A: All the Non profit organizations in the USA are required to express their expenses based on  their…

Q: What measurement focus and basis of accounting should be used by a local government's…

A: The appropriate measurement focus and basis of accounting for a local government's private-purpose…

Employee Benefits

In an organization employees are the most important resource and most important asset. They can lead an organization to the sky or can be the reason for unsuccessful of business. Therefore, it is very much important that employees of an organization should be satisfied by the environment of the organization and most importantly with the salary, wages incentives, etc.