Using information in the relevant IPSASs, give a comprehensive definition (with examples) of revenue and expenditure appropriate for a Central Government.The IPSASs indicated some benefits of Cash Flow Information. State any two of these benefits to an entity and also the general public. DetailsAmountDividend Received93,250143,000194,000200,000Loan paymentAmounts RecoveredInterest ExpenseCourt Administration FeesCost of Training240,000275,000300,400300,750330,000350,000370,000Bar LicenseStore RentFines and PenaltiesGeneral CleaningSanitationAccumulated Fund (1/1/2020)370,600Basic Taxes and Rates370,900Allowances390,470Equity Investment AcquiredRoyaltiesAccountancy and Consultancies costWork-In-Progress420,000430,000470,000490,000530,370Herbalist LicensePosts not on EstablishmentOther ExpenditureStool Land RevenueTransport and Travelling cost580,000600,000600,000620,000630,000UtilitiesHostel License630,920 DetailsAmountAdvances to StaffLocal Park FeesInventory and ConsumablesSpecial ServicesProperty Rate660,000720,400800,000820,000820,900Social Benefit840,300870,000960,000980,000990,000990,3201,140,700Market TollsConsumption of Fixed AssetsInfrastructure, Plant and EquipmentPermit FeesProceeds from Sale of EquityEstablished PostsDevelopment Bonds IssuedBusiness Income1,300,0002,300,6002,330,0002,930,0006,120,800Loans ReceivedLocal FundRent from Land and BuildingCentral Government SalariesCash and Cash Equivalent @ (1/1/2020)Parish Development Facility12,000,00012,300,24015,000,600

Cash flow statement Cash flow statement which are used to assess the information of total net…

Using information in the relevant IPSASs, give a comprehensive definition (with examples) of revenue and expenditure appropriate for a Central Government. The IPSASs indicated some benefits of Cash Flow Information. State any two of these benefits to an entity and also the general public.

Using information in the relevant IPSASs, give a comprehensive definition (with examples) of revenue and expenditure appropriate for a Central Government. The IPSASs indicated some benefits of Cash Flow Information. State any two of these benefits to an entity and also the general public.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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An entity provided the following information during the current year:January 1 December 31Fair value of plan assets 6,000,000 9,000,000Projected benefit obligation 4,500,000 5,000,000Prepaid/accrued benefit cost – surplus 1,500,000 4,000,000Asset ceiling 1,000,000 2,500,000Effect of asset ceiling 500,000 1,500,000During the year, the entity recognized current service cost P2,000,000, actual return on plan assets P400,000,and contribution to the plan P4,550,000 and benefits paid P1,950,000. The discount rate is 10%REQUIRED: . Compute the defined benefit cost
Below is the complete set of Financial Statements of Take-Home University (THU), a PublicUniversity of Ghana, issued on 1st May 2020.Statement of Financial Performance for the Year Ended 31 December, 2018Revenue NotesGOG grant 1,540,000,000Internally Generated Funds 2 14,427,492,000Donations and other income 9,278,258,00025,245,750,000ExpenditureCompensation for employees 3 8,385,270,000Goods and services 4 2,238,083,000Social benefit 1,720,000Interest 1,720,000Capital expenditure (CAPEX) 5 25,542,515,000Other expenses 6 79,100,00036,248,408,000Net Operating Result – Deficit (11,002,658,000)Statement of Financial Position as at 31 December 2018NotesCurrent AssetsCash and cash equivalent 294,233,000Receivable (468,050 -10,000) 458,050,000Inventory 155,254,000907,537,000Liabilities and FundPayable 7 696,325,00020% Loan 8,600,000704,925,000Accumulated fund 8 202,612,000907,537,0004Cash Flow Statement for the Year ended 31st December 2018Cash InflowsGOG grant 1,540,000,000Internally…