0
What else can I help you with?
Which of these periods of time is the fiscal year for the federal government?
oct. 1 to sept 30
Who determines th US Fiscal Policy?
US fiscal policy is determined by the federal government in office at the time of the policy.
When did the fiscal year for the us government begin and end?
In the United States, the fiscal process of the federal government begins each February with the president sending to Congress a proposed federal budget for the coming fiscal year, which begins in October.
What period of time is the income statement?
Income statement can be made for any period of time but normally it is one fiscal year and all expenses and incomes related to that fiscal period is shown.
What is the time period a budget usually covers?
a fiscal year
What is the most common time period covered by an accounting report called?
fiscal year
What authority allows the government to continue its fiscal operation at a minimum level for a specific amount of time?
continuing resolution authority
Distinguish between deficit budget and surplus budget?
The main difference between the fiscal and budget deficit is of time period in consideration.Fiscal Deficit is the Govt. Deficit (Government Expenditures - Government Earnings (excluding borrowings)) for a fiscal year let say 2008-09 while...Budget Deficit is the Govt. Deficit in fiscal year 2008-09 (i.e. fiscal deficit for year 2008-09) plus the past Debt over the Government (i.e. the net sum of all past Fiscal deficit/surplus before fiscal year 2008-09).
What are the three main elements of Fiscal Law?
The three main elements of Fiscal Law are budget authority, time frame, and purpose. Budget authority refers to the legal authority to spend government funds. Time frame pertains to the period in which funds can be obligated and used. Purpose involves the specific reasons or activities for which funds can be expended.
What do you mean by fiscal period?
Time period relating to finance or finances. Fiscal year end = the end of an accounting year/cycle. Your first fiscal year could be only 3 months as at March 31, 2010 (you start your business on Jan 1st to Mar 31st) and then thereafter your Fiscal Year End is March 31st. Fiscal period could be financial reporting for only one month. It needs to be defined by the user in a financial report of some kind.
An accounting time period that is one year in length but does not begin on January 1 is referred to as?
a fiscal year
What is federal spending?
Government spending is the amount of money that a government allocates and eventually spends in a specific period of time. The US government spends about one trillion dollars per year.
