ACIS+4124_5124+Chapter+8+PowerPoints+Part+2+Student

ACIS+4124_5124+Chapter+8+PowerPoints+Part+2+Student - ACIS...

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1 ACIS 4124/5124 Chapter 8 – Part 2 Accounting for the Fiduciary Activities—Agency and Trust Funds
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2 Investment Trust Fund - Example BURG COUNTY Investment Pool Statement of Changes in Net Assets For the Year Ended December 31, 2012 Additions Deposits of participants 4,050,000 $ Investment earnings 86,850 Increase in fair value of investments 31,500 Total Additions 4,168,350 Deductions Total Deductions - Change in net assets 4,168,350 Net assets, January 1, 2012 - Net assets, December 31, 2012 4,168,350 $ The financial statements for the investment trust fund only report net assets and changes in net assets related to the external participants.
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3 BURG COUNTY Investment Pool Statement of Net Assets As of December 31, 2012 Assets Cash 30,000 $ Investments 4,565,000 Accrued Interest Receivable 36,500 Total assets 4,631,500 Liabilities Due to internal participants 463,150 Total liabilities 463,150 Net Assets Held in trust for participants- Burg ISD 2,176,805 $ Town of Burg 1,991,545 Total net assets 4,168,350 $ Investment Trust Fund - Example
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4 The gift (principal) is maintained (endowment), or spent (expended) for the “private-purposes” specified by the donor Accounting for expendable private-purpose trusts is similar to the accounting for investment trusts Accounting for endowment funds is similar to
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ACIS+4124_5124+Chapter+8+PowerPoints+Part+2+Student - ACIS...

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