Governmental - Modified Accruals Flashcards
1
Q
What type uses modified accruals?
A
Governmental Fund Accounting (GRaSPP)
2
Q
BAE-BAE
A
Budgetary, Activity, Encumbrance (Book-Close)
3
Q
Revenue
A
Taxes - income & sales
Taxes - Property and real estate
Fines & penalites
4
Q
Other Financing Sources
A
Debt proceeds (bonds and notes) Inter fund transfers
5
Q
Revenue Rules
A
(Collection Jan - Dec) + (Items O/S Jan & Feb) = Revenue
60 day after YE rule
6
Q
Classification of Governmental Expenditures
A
Functional program > Organizational Unit > Activity
7
Q
NU CAR
A
Non-spendable Unassigned Committed Assigned Restricted
