CHAPTER 5 REVENUE ACCOUNTING of GOVERNMENT FUND
A. DEFINITION of REVENUES
I. Revenues for government fund are the INCREASES in the net assets or fund balance that either:
1. Result in the increase in net assets/fund balance as a whole.
2. Result from ex
CHAPTER 1 & 2 OVERVIEW of Government & Non-Profit Accounting
And SLG Accounting & Financial Reporting
I. CHARACTERISTICS of G&NP entities
1. They do not attempt to earn a profit and most are exempt from taxes.
2. They are owned collectively by their con
CHAPTER 7 CAPITAL PROJECT FUNDS
I. CPF must be used whenever they are legally and contractually required, even for non-major capital asset
acquisitions or construction projects. They may be used to acquire any significant general governmen
CHAPTER 6 EXPENDITURES ACCOUNTING of GOVERNMENT FUND
A. DEFINITION of EXPENDITURES
I. Expenses are measured of cost expired or consumed during a period.
Current liability including the related one-year look-out procedure is used in the economic resource