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Is special revenue fund accrual or modified accrual?
Modified
What is non fund based accounting?
nothing
Where can one find more information about partner accounting software?
Advent Partner has a very high quality partnership accounting software. This software is generally for managing a fund's accounting like one would the fund's assets.
What is the meaning of fund accounting with reference to Mutual Funds?
It is the process of reviewing the net financial assets of a mutual fund company.
What Factors affect the choice of a cash or accrual basis?
Generally there are four conditions for whichcash basis is appropriate:i. Where no inventoryii. no natural connection between debtors & creditors,iii. no fund of circulating capital andiv. but rather where payment is largely a reward for servicesWhen small organisations are starting off they usually begin with a cash basis accounting system. This simply uses the business receipt's book and bank deposit details to track income and the business cheque book to track expenditure. Small business needs to be very careful while recording all these details on every transaction occurred to work the job done well. However, this could become complicated when business need to work out payrolls and tax liabilities (Our Community).Accrual accounting differs from the simpler cash basis accounting in that a business make an entry into their ledger at the time they incur a debt or receive a grant, not on the date when they actually pay out or get in the money. Accrual accounting is generally preferable when a business can manage this, because it gives a better idea of where the organisation stands in the medium term. If the organisation works on short-term transactions and does not have long-term debts or commitments, the business may be able to get away with cash flow accounting while business still stay small.Some non-profits use a modified-cash basis of accounting, which is a cross between accrual accounting and cash basis accounting. The entity can choose to use a cash basis of accounting for goods and services tax purposes if it is:A charitable institutionA trustee of an endorsed charitable fundA gift deductible entity, orA government school (Australian Taxation Office).They will record payroll taxes withheld from employees or large revenue or expense items on an accrual basis. This means recording revenues when they are earned and expenses when obligations are incurred (Our Community).Reference:OurCommunity.com.au, Understanding basic bookkeeping,< http://www.ourcommunity.com.au/boards/boards_article.jsp?articleId=65>
Is special revenue fund accrual or modified accrual?
Modified
Is the enterprise fund full accrual or modified accrual accounting?
It's full accrual because it is considered part of the business type activities of a government. Something, such as the general fund, is considered modified because it is a budgetary tool and it would not consider future liabilities, only current.
What fund accounting?
Fund accounting is the accounting system emphasizing on accountability rather than profitability
Which two fund types would you typically find in operating environments?
Operating budget - other (fund type L) and Reimbursement accounting - operating budget funds (fund type M)
Is mutual fund accounting different in Omaha, NE?
There is no real difference in a mutual fund accounting in any area. The only thing to worry about is various laws in different states with mutual fund accounting.
What is an accounting equation?
sources of fund is equal to application fund
What has the author John P McAllister written?
John P. McAllister has written: 'Fund accounting' -- subject(s): Fund accounting
What is non fund based accounting?
nothing
What is vote book in public sector accounting?
Public sector accounting is Government accounting. They have a tradition of calling a General Ledger account code a Vote Code. It is usually Cash Accounting as distinct from Accrual Accounting. The Vote Book is the Cash Book. The Chart of Accounts is the Chart of Vote Codes. As an example, the GL account code structure may be Fund Code and Vote Code. The Fund Code is the bank account and may be "G" for General Fund. The Vote Code may be 2101 where the first character 2 is for expense (1 is for Income) and 2101 may be for PURCHASES- OFFICE. They are very concerned about Budgets and Actuals with Monthly reporting showing how Actuals are performing against Budgets. The objective is not profit and loss but spending the whole budget by the end of the budget year.
Where can one find more information about partner accounting software?
Advent Partner has a very high quality partnership accounting software. This software is generally for managing a fund's accounting like one would the fund's assets.
What is vote book in public sector?
Public sector accounting is Government accounting. They have a tradition of calling a General Ledger account code a Vote Code. It is usually Cash Accounting as distinct from Accrual Accounting. The Vote Book is the Cash Book. The Chart of Accounts is the Chart of Vote Codes. As an example, the GL account code structure may be Fund Code and Vote Code. The Fund Code is the bank account and may be "G" for General Fund. The Vote Code may be 2101 where the first character 2 is for expense (1 is for Income) and 2101 may be for PURCHASES- OFFICE. They are very concerned about Budgets and Actuals with Monthly reporting showing how Actuals are performing against Budgets. The objective is not profit and loss but spending the whole budget by the end of the budget year.
What are the types of hipc fund?
explain HIPC fund
