Governmental Accounting Stakeholders: is more then just those who pay in, but everyone who is effected by the decision of that group. The government is unique because most of the funds are from taxes (involuntary contributions) Not accrual accounting its
No land, we do expenditure instead Long term debt: OFS Balance sheet: government-wife statement of net assets Income statement : Statement of Activity Its all non-exchange activites, all taxes, nothing given back. State and local Govt have EMS police, fir
Test 3 Review
40 Multiple choice questions
Form of accounting used for each fund type
Governmentals are the ONLY ones that use MODIFIED
Fund and government-wide statements: type of accounting, what is reported on each.
How many types of accounting do you