Define Government Grants?

Q: Which of the following is not a financial factor affecting the location decision? The availability…

A: Location decision is one of the most important decisions with regard to the set up of the business…

Q: At what point in time does a governmental fund report an expenditure?

A: Definition:   Governmental (expendable) funds: Governmental (expendable) funds are used in the state…

Q: benefits ofered by government for employees in Explain in which category of funds are these benefits…

A: Retirement and pension benefits are given to a retired government official to make sure that they…

Q: Which of the following is not a governmental fund? Choose the correct.a. Special revenue fundb.…

A:

Q: What is the difference between an enterprise fund and an internal service fund?

A: Fund: It can be defined as a sum of money that is made available or kept aside for a specified…

Q: What costs necessitate the reporting of an expenditure by a governmental fund?

A: In a government fund, expenditures are recognised in the accounting period in which goods and…

Q: How do governmental funds report capital outlay in fund financial statements? How do government-wide…

A: Explain how governmental funds report capital outlay in fund financial statements and how government…

Q: What is a special assessment? How does funding for a special assessment capital improvement differ…

A: Special assessments projects occur when the state or local government decide to offer improvements…

Q: Why is Fund Accounting important to governmental organizations in the wider world?

A: Step 1   Fund accounting is an accounting system focus on accountability and transparency rather…

Q: Discuss the common Revenues and Expenditure of Local Finance

A: Local finance means all the income and expenditure of a local government of a city. It covers all…

Q: What is the basic structure of government-wide financial statements and fund financial statements…

A: Financial statements: Financial statements are condensed summary of transactions communicated in the…

Q: Describe the scope of Public Finance.

A: Public finance is a field of economics concerned with how a government raises money, how that money…

Q: rite the definition, recognition, measurement and derecognition of  GOVERNMENT GRANT.

A: Government grant:  It is the sum of the grant given to the business by the government that a…

Q: The funds allocated to products and services used to satisfy citizens' needs are classified as…

A: Solution: Government spends money from its treasuries to fulfil various needs for people in economy.

Q: What are the sources of finance for local government?

A: The local governments must generate sufficient revenues to finance their administrative operations.…

Q: Please describe a special revenue fund you find particularly beneficial.

A: A special revenue fund is a govt account that gathers money for a specific project. Special revenue…

Q: 3. Define Government Grants?

A: Grant means monetary assistance provided to the business organisation. When this assistance is…

Q: Discuss the common revenue and expenditure of local finance

A: Local finance means all the income and expenditure of a local government of a city. It covers all…

Q: give the definition, recognition, measurement and derecognition of "government grant"

A: International Financial Reporting Standards, generally called IFRS, are the accounting standards…

Q: What measurement focus is used in fund financial statements for governmental funds, and what system…

A: The government wide financial statements includes preparation of two statements – statement of net…

Q: How is depreciation handled in the federal government’s General Fund? How does it differ from how…

A: Depreciation: Generally speaking, the word "depreciation" refers to an accounting process that is…

Q: What federal fund is most like a custodial fund used by state and local governments?

A: Here given the details of the federal fund which is treated as the custodial fund which can be used…

Q: Why are budgetary entries recorded in the individual funds of a state or local government?

A: Funds:   Funds refers to an amount of money which is set aside or saved by individuals, government,…

Q: Shortly describe the purpose of public and finance

A: Corporate finance is referred as the decision of the firm to take capital investments and other…

Q: lain briefly why Government funds or property shall be spent or used solely for public purposes.

A: A government fund is a grouping used in accounting for tax-supported operations undertaken by the…

Q: What is the person or institution that invest or make fund available?

A: An investor is a person or other entity (such as a company or mutual fund) who invests money in the…

Q: How does the topic of accounting for government grants relate to the topic of accounting for…

A: Government Grants for biological  asset is covered  under IAS 41 Agriculture  standard

Q: What types of special revenue funds are beneficial?

A: Funds are the balance that has been kept by the company or the government so that any contingencies…

Q: How are interfund transfers reported in fund financial statements?

A: Financial statements: Financial statements are condensed summary of transactions communicated in the…

Q: Explain the Importance of FFO (Funds from Operations)

A: Funds from operations: The total cash flow from the operation is called funds from operation. In…

Q: What other sources provide resources for capital projects funds?

A: A capital project seems to be a long-term, capital-intensive investing project with the goal of…

Q: An inter-fund transfer out should be reported in a governmental fund operating statement as a (an)

A: Inter fund transfer is the transfer included as an accounting transaction which shows transfer of…

Q: Explain the government fund financial statement?

A: Financial statement of local and state governments are different from the company and business.…

Q: Discuss the scope or subject matter of public finance.

A: Public finance generally deals with how as well as through what various different sources a…

Production Budget

A budget can be defined as a financial plan designed by an undertaking for a definite period in the future that can contribute towards enhancing the financial success of the business undertaking. It is used to estimate the revenue and expenses. The budget generally takes into account both current and future income and expenses.