The Use of Funds in Government Accounting

11. Investors and creditors are particularly interested in this financial statement because it tells them what is happening to the company’s most important resource?

cognizant of the fact that the choices he makes can affect the price a buyer pays

The general fund type consists of general revenue and general services. The special revenue fund type consisted of higher education improvement, cultural facilities building, and Clean Ohio Conservation Program. Next, the capital projects fund type consisted of: mental health facilities improvement, parks and recreation improvement, administrative building, and juvenile correctional building. The enterprise fund type consisted of: liquor control, state lottery, and workers’ compensation. Finally, the agency fund type consisted of: agency, accrued leave liability, and volunteer fire fighters’ dependents. The totals for each of the fund types are: general government ($1,015,491 for adjusted appropriations (aa) $875,7998 for total committed appropriations (tca), $139,693 for uncommitted appropriations (ua), and $888,605 for budgetary expenditures (be); total community and economic development fund: $2,042,882 for adjusted (aa), $1,374,832 for total committed, $668,050 for uncommitted, and $1,250,961 for expenditures; total local government support and tax relief fund: $4,110,991 for adjusted, $3,943,201 for total committed, $167,790 for uncommitted, and $3,943,201 for expenditures; capital outlay fund: $1,133,362 for adjusted, $446,471 for total committed, $686,891 for uncommitted,

Assets are to be recorded and valued based of the type of asset there are.

Classify each of the items as an asset, liability; revenue; or expense from the company's viewpoint. Also indicate the normal account balance of each item.

| The portion of current assets financed through long-term financing is referred to as the:Answer

| What basis of accounting is used to account for transactions of a government permanent fund?Answer

Question In some local government financial reports you will find activities such as solid waste disposal and sewage disposal accounted for as a part of the General Fund. In other reports apparently identical activities are accounted for as enterprise funds. Under what conditions would each treatment be proper?

activities? Which function or program has the highest net cost? What kinds of general revenues are available to cover the net cost of governmental activities?

Taxes are the dollars that we pay to government to supply the services that are not or can not be provided through the free enterprise system. Taxes have been around since the beginning of organized societies. They come in various forms. Most common are income taxes both federal and local government. These taxes are assessed on the amount of income a person earns. Other taxes come in the form of user taxes; these taxes are imposed on the people that are using the goods being taxed, such as gas tax, alcohol tax, sales tax, and luxury taxes. Property taxes make up the major revenues for local and city governments. Furthering the burden of taxation are taxes that are attached to such bills as utility

B. The money that is collected is put in a trust fund that provides a monthly income for retired workers.

2) What is the preferable presentation of accounts receivable from officers, employees, or affiliated companies on a balance sheet?

sale of assets, e.g. shares, investment property, assets held in super, managed funds, term deposits, cash or other investments; and/or

This project seeks to bring out the budgeting and budgetary control practices of UT financial institution, Koforidua, and how they can make sure their budgeting practices are done in such a way as to incur minimal or less cost for the organization

A Report for the Honorable Mayor, City Council, & Board of Directors of an African Country