What are program services expenses?

Q: Define Prior service cost.

A:

Q: Define the term Approval of payment requests?

A: The payment is an amount of money paid by the customer to the seller in exchange of goods and…

Q: Explain the Service Projects versus Revenue Projects?

A: The project is the collaborative effort initiated to achieve a certain objective within a certain…

Q: What is physical life of project?

A: Physical life of a project is the duration of time in which the project has been fully used and…

Q: what are the primary cost saving features of a managed care plan?

A: Managed care plan refers to that health insurance plan that gives medical reimbursement to the…

Q: What is a “grant date”?

A: A stock option is a contract that allows its holder to either buy or sell a certain number of shares…

Q: Distinguish between program service expenses and supporting service expenses.

A: A nonprofit organization’s expenses can be classified into two types, they are expenses for program…

Q: Define Service period

A: Introduction: Usually, service is nothing but something that is supposed to support other who offer…

Q: What is managing underwriter?

A: Managing Underwriter: The leading company in a guaranteeing group, which creates the transaction and…

Q: What are the Sponsor's Costs?

A:

Q: what is medicare

A: Insurance is an agreement in which the company provides a guarantee of compensation for specified…

Q: Define defined benefit plan

A: A defined-benefit plan is a business supported retirement plan in which representative advantages…

Q: Administrative Expenses include:

A: Administrative Expenses are the cost incurred by an organization that is directly not related to the…

Q: Describe the decisions about expenditure?

A: Expenditure:   It is the money spent by the organization to purchase or increase the value of their…

Q: What is a special assessment project? How are special assessment projects reported?

A: Special assessment project: The special assessment project refers to the projects which are…

Q: How does Target record repairs and maintenance expense?

A: Revenue expenditures:   These costs are incurred to maintain the long-term asset in good condition…

Q: Explain service method of allocating prior service cost.

A: Service cost refers to the part of pension expenses deducted every year. Service cost is amortized…

Q: What is a deferral expense?

A: Word "Deferral" means the postponement of something happening.

Q: Distinguish betwenn program service expenses and supporting service expenses.

A: Expenditures related to the public services offered by the NFP are referred to as program service…

Q: What is Discretionary Spending;

A: The items which are used for entertainment and for recreation which the consumers generally purchase…

Q: For which funds are budgetary comparison schedules or statements requires?

A:

Q: How are research and development expenses treated?

A: Research and development(R&D) expenses: These  are the expenses which an entity incurs in…

Q: What do the comparison of alternatives with unequal service livesrequire?

A: Present worth means discounting the future cash flows at the interest rate. The calculation of the…

Q: Define commitment fee

A: In financial terms, commitment is a promise made by lender to borrower to provide loan by specific…

Q: what is State indebtedness

A: Any obligations and liabilities for borrowed money created, issued, or incurred by the Purchased…

Q: Is advertising a program expense?

A: Advertising is treated as expense when it is incurred by the entity or organization for making the…

Q: Define net pay.

A: Payroll: Payroll refers to the total amount that is required to be paid by the company to its…

Q: How can we identify the sponsor's costs and quantify them?

A: Sponsorship cost: Many times firms and individuals pay either a part of the entire amount of expense…

Q: Define adjustment bureau

A: Adjustment bureaus generally operate under the laws of the federal government. These adjustment…

Q: Identify and distinguish between the physical and financial components of the expenditure cycle.

A: The whole expenditure cycle divided into monetary and non-monetary transaction .the financial…

Q: What are quality improvement programs?

A: Total Quality Management: Total quality management is a method that eliminates wasteful activities…

Q: What is allowance method?

A: Definition:   Allowance method of accounting for uncollectible accounts: This is the accounting…

Q: Name the major subsystems of the expenditure cycle.

A: A transaction process system helps a business to process all the transactions are the required…

Q: What is the difference between a contribution- and a benefit-orientedretirement plan?

A: Defined contribution plan is a retirement plan which gives an option for the employees to grow tax…

Q: What is surcharge?

A: surcharge is an additional or extra charge or tax charged on the cost of goods or service more than…

Q: What procedures are involved in the conduct of a turnaround program?

A: The term "turnaround management program" refers to the restructuring and renewal of a company. When…

Q: Define service sector.

A: Service Sector: The service sector produces intangible goods, more precisely services instead of…

Q: Over what period of time should compensation cost be allocated?

A: As per GAAP, the compensation cost must be recognized over the service period of an employee.For…

Q: Define defined contribution plan

A: A defined-contribution (DC) plan is a retirement plan that lets an employee to contribute a fixed…

Q: What are support events?

A:

Q: appropriation account?

A: Appropriation represents the profit distribution of the company for shareholders and reserves.

Q: Determine the components of postretirement benefit expense

A: Post-retirement benefit expense:   This is an expense to the employer-paid as compensation after the…

Budgeted Income Statement

Accounting is the process of recording business-related financial transactions. The process of accounting involves summarizing and analyzing the transactions. The financial statements which are prepared in accounting contain a summary of the various transactions that took place within a certain accounting period. Book-keeping or accounting is one of the most important activities of any business.