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Why are the jurisdictions of the accounting standardssetting bodies Gasb fasab and fasb?
The GASB is responsible for establishing and improving accounting and financial reporting standards for all state and local governmental entities (including government-sponsored colleges and universities, health care providers, and utilities). The FASAB establishes accounting standards for the federal government. The FASB establishes standards for all other entities, including not-for-profit colleges and universities and health care providers.
What private organization establishes broad accounting principles as well as specific accounting rules?
FASB financial accounting standards board
What are some professions where government can enforce standards through licensing?
society establishes standards for particular professions, such as medicine, law, accounting, and real estate. The government guarantees compliance with these standards by imposing tests and other requirements.
Who establishes speCIAlized agencies such as the CIA?
The U.S. government.
What are the three branches of government and which article establish each branch?
The three branches of government are judicial, legislative and executive. Article I establishes the legislative branch, Article II establishes the executive branch and Article III establishes the judicial branch.
What is government accounting?
Government accounting is the authorizing, tracking and recording of revenue and expenditures. It can govern how taxes are raised and how the executive of a government spends the proceeds.
Who are the major users of accounting?
The GAO : Government Accounting Office for one ,
What are the principles of government accounting?
Fund accounting is the most important principle of government accounting. Separate funds are used to make it easier to account for all governmental costs.
Who in the US establishes and changes the fundamental role of government?
The senators
What branch of government establishes post office and roads?
legislative
Article II of the US Constitution establishes this branch of the federal government?
executive branch of government
What are the advantages of modified accrual accounting?
advantage modified accrual accounting in government
