ACC-410-Assignment-1-Fund-Accounting

Apr 30th, 2015
Studypool Tutor
Strayer University
Course: business and management
Price: $10 USD

Tutor description

Fund Accounting is a system of accounting used primarily by governments or non-profit organizations. For these entities it is more important to show how their money is spent rather than earned. Their accounting records are comprised of a collection of funds with each having a specific purpose ranging from the operating expenses to the funding of the different activities within the organization. (investorwords.com)

Word Count: 1094
Showing Page: 1/7
Vonda JohnsonStrayer UniversityNovember 2, 2012ACC410Professor Richard Hendershot Fund Accounting is a system of accounting used primarily by governments or non-profit organizations. For these entities it is more important to show how their money is spent rather than earned. Their accounting records are comprised of a collection of funds with each having a specific purpose ranging from the operating expenses to the funding of the different activities within the organization. (investorwords.com)Funds are a fiscal and accounting entity with a self balancing set of accounts recording cash and other financial resources, together with all related liabilities and residual equities or balances, and changes therein, which are separated with the intent of carrying on specific activities or acquiring certain objectives in accordance with special regulations, restrictions or limitations.All governmental entities should establish and maintain those funds required by law and effectual financial administration. Unnecessary funds will result in inflexibility, undue complex problems and inadequate financial administration; for these reasons governments should only require the minimum number of funds uniform with legal and operating requirements.Government funds can be classified into one of eleven different fund types which can be broken down into three broad categories of funds. These funds are Governmental funds, Proprietary funds and Fiduciary Fund

Review from student

Studypool Student
" <3 it, thanks for saving me time. "
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1826 tutors are online

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors