Term
1. Balance Sheet
2. revenues, expenditures & changes
balance
3. Reconciliation, balance
wide, activities |
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Definition
Governmental Fund Financial Reports
1. B______ ______
2. Statement of r______, e______ & c_____ in fund b_____
3. R________ of statement of r,e & c in fund b_______ to Govt ____ statement of _____ |
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Term
Assets
Liabilities
Fund Balance |
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Definition
Fund Financial Reports
Balance Sheet equation
A______= L_____ + F_____ ________ |
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Term
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Definition
| Statement of revenues, expenditures & changes in fund balance is similar to the _____ _______. |
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Term
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Definition
| For the Govt Fund Financial Reports, there are NO e_____ but there are e_____. |
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Term
Assets= Liabilities + Fund Balance
Modified
Current Financial |
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Definition
For the General Fund and all other MAJOR funds:
Accounting Equation-
A_____= L_____ + F_____ _______
______ Accrual
Focus= C____ ______ resources |
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Term
Governmental
Propietary
Fiduciary |
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Definition
Types of Funds
1. G________ Funds
2. P________ Funds
3. F________ Funds |
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Term
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Definition
| Propietary Funds records b______-like funds. |
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Term
1. Enterprise
2. Internal Service |
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Definition
Two types of Proprietary Funds
1. E__________ Funds
2. I________ ______ Funds |
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Term
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Definition
| _________ Funds- includes general public customers EX. Metro Transport, Water Services |
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Term
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Definition
| ______ _______ Funds- customers are units within the Govt. EX Printing/Copy Center for all units in the govt. |
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Term
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Definition
| _______ Funds- managed and invested for 3rd parties |
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Term
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Definition
Types of Fiduciary Funds
1. T_____ Funds- EX Pension for Employees
2. A_____ Funds- held for another govt. EX city collects sales tax and holds the state's portion. |
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Term
1. Net Assets (Balance Sheet)
2. revenues, expenses, changes, net assets (income statement)
3. cash flows |
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Definition
Propietary Funds Financial Reports
1. Statement of ___ A______ (Similar to _____ _____)
2. Statement of r_____, e____ & c______ in ____ a______ (Similar to _____ ______)
3. Statement of C___ ______ |
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Term
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Definition
Proprietary Funds Financial Reports
Accounting= _______ Accrual
Focus= _______ resources |
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Term
1. fiduciary net assets
2. changes in fiduciary net assets
Govt Wide Activities |
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Definition
Fiducuiary Fund Financial Reports
1. Statement of f_____ ____ _____
2. Statement of c____ in f____ _____ _____
Fiduciary Funds are NOT reported in the ____ ______ ________ because it is owned by a third party. |
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Term
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Definition
Fiduciary Fund Finanacial Reports
Accounting= _______ Accrual |
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