Agency funds are purely custodial in nature which is why the fund wouldn't have revenue or expenses. The fund balance sheets show only assets (such as cash and investment) and liabilities (which is the amounts owned to the beneficiaries). Assets always equal liabilities which is why there are no net assets
how to monitor and control expenses against budget/
revenue is what pays the expenses of running the business and hopefully you can even make enough revenue above expenses to make a profit
Revenue expenses are those expenses which are incurred for every fiscal year to earn revenue for specific fiscal year and are recurring nature like salaries etc.
establishment of fund: petty cash fund xx cash in bank xx payment of expenses out of the petty cash fund: expenses xx petty cash fund xx
False, revenue is gain
how to monitor and control expenses against budget/
Revenue Equalization Reserve Fund was created in 1956.
An emergency fund covers unexpected expenses. It is suggested that an emergency fund be able to cover at least 6 months of expenses in the case of an emergency.
The amounts go into a trust fund and are used as needed for that purpose.
Canada Revenue Agency was created in 2003.
revenue is what pays the expenses of running the business and hopefully you can even make enough revenue above expenses to make a profit
Yes.
Revenue expenses are those expenses which are incurred for every fiscal year to earn revenue for specific fiscal year and are recurring nature like salaries etc.
Net Income : When Revenue is greater than Expenses. Net loss : When Expenses are greater than Revenue. References : Basic Accounting (111) Book .
establishment of fund: petty cash fund xx cash in bank xx payment of expenses out of the petty cash fund: expenses xx petty cash fund xx
The general revenue fund (?)
Revenue is the amount of money a business/person makes as a whole. Expenses are things that a business/person has to pay for with their revenue such as utilities that a business uses. What's left over from the revenue after the expenses are paid for is profit.