ACCT 567

ACCT 567 WEEK 3 Question 1 Question TCO A Which of the following items are considered Required Supplementary Information (RSI)? Student Answer: Management’s Discussion and Analysis Budgetary Comparison Schedule Schedule of Risk Management Activities All of the above Instructor Explanation: Chapters 1 and 2 Points Received: 5 of 5 Comments: Question 2. Question : (TCO B) Expenditu

ACCT 567 WEEK 4 What types of activities are recorded under the internal services account? Please provide examples. Is the government required to account for activities in the internal service fund or in another fund?

ACCT 567 WEEK 4 How would you compare the accounting for enterprise funds with that of (a) businesses and (b) governmental funds?

ACCT 567 WEEK 3 When does GAAP require the use of a debt service fund? Are there instances when a governmental entity is not required to use a debt service fund?

ACCT 567 WEEK 3 When should a capital projects fund be used by a governmental entity? Is it mandatory that a governmental entity use a capital project fund for GAAP purposes?

ACCT 567 WEEK 2 Please provide an explanation as to why accounting transactions for governmental activities as the governmental wide level tend to be reported differently than transactions for the General Fund? Could you cite some examples?

ACCT 567 WEEK 2 How does the adoption of a budget in a governmental entity differ from the adoption of a budget by a commercial enterprise

ACCT 567 WEEK 1 Why are there major differences between governmental accounting systems vs. business accounting systems?

ACCT 567 WEEK 1 Discuss some of the major differences between GASB and FASB when it comes to setting accounting standards.