Continuing Problem 1- A) On a budget base.
The primary differences between GAAP-basis and budget-basis reporting for the General Fund are the reporting of encumbrances and the reporting of certain transfers. General Fund accrued payroll is recorded
Recognizing Revenue in Governmental Funds
Questions for Review and Discussion
1. Basis of accounting refers to when transactions and events are recognized. Measurement focus refers to what is being reported upon that is, which assets and l
Omer Kilic 7.43) a) Counting and placing the offerings, notation of the amount counted should not be done by only one employee. Instead they should be segregated. Unissued prenumbered documents should be maintained at all times. b) Internal control a