ACCY161Fa10_Notes08 - the folder for Respondus Then exit...

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ACCY 161 – Fall 2010 Class Session #8 – Budgetary Accounting and Financial Reporting ACCY161Fa10_Notes08 Page 1 of 1 I. Class Notes Check your enrollment status by the end of the week at the latest on MySacState Take the practice exams on SacCT Exam #1 o The paper exam will be given in our classroom in the ARC - email by Friday of this week to get on the list – [email protected] o You can take the SacCT exam at any of the three times listed on the exam web page and at any location you want o Note that the exam ending times shown on the SacCT exam when you are taking it will cause the exam to be no longer available and the exam will be closed at that time if you have not already started the exam o Use of the lock-down browser: Will go over in class today You have to download the lockdown browser Then install it on your pc Then run the lockdown browser – it should be in your list of programs most likely in
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Unformatted text preview: the folder for Respondus Then exit other programs except SacCT unless the lockdown browser has already closed them Then you can access the exam II. Budgetary Accounting Review 1. Annual budgets should be adopted by every state and local government – Principle #10 2. The accounting system should provide the basis for budgetary control – Principle #10 3. Budgetary to actual comparisons should be included in the RSI for the general fund and the special revenue funds – Principle #11 4. Budgetary accounts III. Comments on Practice Exam #2 Questions IV. Comments on Financial Reporting 1. Without budgetary accounting, proper financial reporting cannot be done. 2. Review Principle #13 3. Dual track: Fund track and the government-wide track 1 4. Know about fund-government-wide track reconciliation works but not how to do it. 1 Called the governmental activities track in our text....
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