Latest Questions & Answers

Q: What are stewardship assets? How does the accounting for a stewardship

What are stewardship assets? How does the accounting for a stewardship asset differ from that for general property, plant, and equipment?

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Q: The federal government uses two groups of funds. Identify the two

The federal government uses two groups of funds. Identify the two fund groups, and the funds associated with each group. Compare the funds to those used by state and local governments.

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Q: Go to the Internet Web sites of any five of the charitable

Go to the Internet Web sites of any five of the charitable organizations listed in Illustration 14–7 and search for financial information and performance measures they may disclose on their Web sites...

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Q: Defining the reporting entity at the federal level is complicated by different

Defining the reporting entity at the federal level is complicated by different perspectives from which the federal government can be viewed. What are the three perspectives? How are they defined? How...

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Q: Explain the differences among these accounts: (1) Estimated Revenues

Explain the differences among these accounts: (1) Estimated Revenues used by state and local governments, (2) Other Appropriations Realized used by federal agencies in their budgetary track, and (...

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Q: According to the FASAB conceptual framework, there are four objectives for

According to the FASAB conceptual framework, there are four objectives for federal financial reporting. Discuss the four objectives and explain why the focus of the FASAB objectives differs from that...

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Q: Compare the GAAP hierarchy for the federal government to that for state

Compare the GAAP hierarchy for the federal government to that for state and local governments (see Chapter 11).

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Q: What are the components of the PAR and where would a federal

What are the components of the PAR and where would a federal agency go to find out the requirements for preparing a PAR?

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Q: Explain the role of the Government Accountability Office (GAO), the

Explain the role of the Government Accountability Office (GAO), the Department of the Treasury, and the Office of Management and Budget (OMB) in the financial accounting and reporting of the federal g...

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Q: What is the Patient Protection Affordability Act, and what impact has

What is the Patient Protection Affordability Act, and what impact has it had on NFP hospitals’ financial reporting and tax filing?

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