TAILIEUCHUNG - Test Bank for Essentials of Accounting for Governmental_4

Tham khảo tài liệu 'test bank for essentials of accounting for governmental_4', tài chính - ngân hàng, kế toán - kiểm toán phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | 155 ILLUSTRATION 6 1 Summary of Proprietary Funds _m 3 o o 8 ÍS - 6 c S u 3 0 co oi rr c 0 _ _Q g o f 1 Ệ o p p y o tu Fund Name UJ O a- UJ Fund Description Fund Term Internal Service Fund Funds used to report activities that provide goods and services to other funds departments or agencies on a cost-reimbursement basis. They are used when the government is the predominant user of the goods or services. Indefinite life. Internal service funds are created by the government and exist at the discretion of the government. Enterprise Fund Funds used to report activities in which users are charged a fee for goods or services. They are appropriate when individuals or businesses external to the government are the predominant users. Indefinite life. Enterprise funds must be maintained if debt is secured solely by user charges laws require that costs be recovered through user charges or government policy requires setting charges to cover the costs of providing the goods or service. 156 Chapters Because revenues and expenses not expenditures are recognized on the accrual basis financial statements of proprietary funds are similar in many respects to those of business organizations. Fixed assets used in fund operations and long-term debt serviced from fund revenues are recorded in the accounts of each proprietary fund. Depreciation on fixed assets is recognized as an expense and other accruals and deferrals common to business accounting are recorded in proprietary funds. Budgets should be prepared for proprietary funds to facilitate management of fund activities but GASB standards do not require or encourage budget-actual reporting. The use of accrual accounting permits financial statement users to observe whether proprietary funds are operated at a profit or a loss. The accrual basis of accounting requires revenues to be recognized when earned and expenses to be recognized when goods and services are used. Two types of funds are .

TỪ KHÓA LIÊN QUAN
Đã phát hiện trình chặn quảng cáo AdBlock
Trang web này phụ thuộc vào doanh thu từ số lần hiển thị quảng cáo để tồn tại. Vui lòng tắt trình chặn quảng cáo của bạn hoặc tạm dừng tính năng chặn quảng cáo cho trang web này.