ACC 460 Accounting for Government and Non-Profit Entities Discussion

Wvuna23

Business Finance

Question Description

Each should be answered in a min of 50 words

Accounting for Government and Non-Profit Entities, Ch. 9

Interfund Transfers

(MARTIN GINSBURG)

using a government entity,

  • identify where an interfund transfer has occurred?
  • Explain which funds were involved in the transfer.
  • Why would a government entity transfer money from one fund to another?
  • How are the interfund transfers reported on a financial report?

Government-Wide Statements

(MARTIN GINSBURG)

using a government entity,

  • identify where the government-wide statements have been presented using the fund statements.
  • What is a governmental reporting entity?

Accounting for Government and Non-Profit Entities, Ch. 10

Revenue Sources

MARTIN GINSBURG

using a government entity you are interested in,

  • What are some examples of that government's source of revenue?
  • How are these sources accounted for?
  • In regards to GASB guidelines, what is the revenue recognition criteria used in government entities and how would it be used in this government entity?

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Final Answer

Attached.

Running Head: ACCOUNTING FORGOVERNMENT AND NON-PROFIT ENTITIES

Accounting for Government and Non-Profit Entities
Name
Course
Tutor
Date

1

ACCOUNTING FOR GOVERNMENT AND NON-PROFIT ENTITIES

2

Accounting for Government and Non-Profit Entities, Ch. 9
Interfund Transfers
Using a government entity identify where an inter-fund transfer has occurred?

An example of interfund transfer is the payment made by the state agency of Idaho to the
office of centralized services fund billings and the office of general services. Other specialpurpose government entities that are often engaged in inter-fund activities include library
districts or those that are engaged in business-type and governmental activities such as some
school districts (Wilson et al. 2010).

Explain which Funds were involved in the Transfer

The consolidations of managerial funds or activities within a single fund between departments
are examples of funds involved in the transfer. A payment by the state agency to various places
such as the office of general services or centralized services fund billings is another example of
funds used in the transfer (Wilson et al. 2010). Other funds...

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New York University

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