Explain Government Procurement Rullings and Procedures.

Q: Discuss the federal government’s contracting programs.

A: Introduction: Contractors are allowed under federal government contracts to set aside certain…

Q: How have users’ needs impacted the development of accounting principles for state and local…

A: Accounting principles refers to the set of rules and regulations which companies must follow in…

Q: What databases are appropriate for government accounting?

A: The term "Government Accounting" refers to recording & analyzing all income , expenses &…

Q: expenditure and ho

A: Reasons for India's rising govt expenditures include: (i) Development Programs: The majority of…

Q: The concept of Value for Money (VFM) in the public sector has been associated with the 5Es. The…

A: The District Assemblies’ Common Fund (DACF) is a pool of resources created under Article 252 of the…

Q: how may resources in the general fund can be assigned to a specific purpose (if that is the intent…

A: The gap between assets as well as liabilities throughout the government expenditures balance sheet…

Q: Required: For each of the costs listed, indicate with an A (allowable) if the cost is always…

A: Disallowed costs Costs that are not allowed under federal grant in accordance with Federal Statutes,…

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 to prepare financial statements for a government agency and non-profit organization?

A: Non-profit organization is an organization which works for the development of the society and not…

Q: How are internal service funds reported on government-wide financial statements?

A: A government-wide financial statement is a comprehensive summary of all the major government funds,…

Q: On what do the government-wide financial statements report?   Multiple Choice   Operational…

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

Q: What is the purpose of the capital projects fund, debt service fund, and permanent fund. Please…

A: The creation of a fund is mostly done to pool up resources required for a particular purpose. funds…

Q: Preparation of government-wide statement of activities

A: Here wehave to understand that the property tax and sales tax is the general government revenue…

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: What are support departments, and why are their expenses shared? How are support department…

A: Departments in the company perform different activities respectively. The costs which relate to the…

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: Compare the purchase and sale of government securities with the purchase and sale of agency…

A: Government Securities are the securities which are often sold by the government. Purchase and sale…

Q: What benefits are derived from including the management’s discussion and analysis in state and local…

A: GASB: The GASB is the board that provides the guideline to the governmental units about proper…

Q: For governmental funds, what measuring emphasis is utilized in the fund financial statements, and…

A: Solution are as follows

Q: How regulatory role of the government is different from its other roles under Public finance and…

A: Government regulation affects the financial services industry in many ways, but the specific impact…

Q: services only to other departments or agencies of the government on a cost-reimbursement basis?…

A: Meaning of Inter Departmental Transactions Interdepartmental transactions are those transactions…

Q: Discuss various other government departments and their functions in cbsa/cfia

A: The CBSA is a Canadian federal agency responsible for federal law agency that is responsible for…

Q: What are some major adjustments required when converting from fund financial statements to…

A: major adjustment for converting from fund financial statements to government-wide statements are…

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

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

Q: Why accounting for budgetary accounts, Accounting for Disbursement, Revenue Receipts and other…

A: The government will run its operations for the welfare of the people. The government also will try…

Q: What are government expenditures

A: Government Expenditure multiplier factor is that the magnitude relation of the change in financial…

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: Which of the following is not a category of program revenue reported on the statement of activities…

A: Answer: Option A is the Correct Answer i.e General program revenue.

Q: Why does a government determine the net expenses or revenues for each of the functions within its…

A: Revenue: Revenue refers to the income received from the business activity or sale of the output,…

Q: government

A: Answer: Government accounting: Government accounting is accounting methods that are being followed…

Q: hat are the requirements for government- wide statements on CAFR?

A: Step 1 Governmental financial statements are comply with governmental accounting standards and…

Q: Government financial reporting should assist report users in evaluating:

A: Answer

Q: What is a basic financial statement that is required for federal agencies?

A: Financial statement refers to those statements which are prepared through the business at the end of…

Q: Provide in full the meaning of these abbreviations and tell briefly how they interface with the…

A: Accounting Information system is a set of components used for gathering, making, storing, preparing,…

Q: Expenses that are specifically identified with a program or function are reported in the…

A: Direct expenses are the Expenses that are specifically identified with a program or function are…