How regulatory role of the government is different from its other roles under Public finance and budgeting? Write on its importance and paybacks

Q: The GASB identifies one of the broadest objectives of government financial reporting as: A.…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Which of the following funds is used to account for government sponsored investment pools that…

A: An Investment Trust Fund is a fund that develops when the government sponsors a multi-government…

Q: What are some of the functions of a state board of public accountancy?

A:

Q: Is there a standard approach for determining when income and expenses are recognized in financial…

A: The creation of two statements – a statement of net assets and a statement of activities – is…

Q: which concerns with revenue and disbursement of government such as central government , state…

A: Finances are referred as the management of money from investing activities, borrowing, lending,…

Q: What impact does the use of the modified approach have on reporting within the government-wide…

A: Financial Statements:                   It refers to the end reports prepared by a business…

Q: What are the key sources of revenues among the federal, state, and local governments? What are the…

A: Federal Government revenue comes from individual income taxes, corporate income taxes, and payroll…

Q: Objective of public financial management

A: Financial management helps in the success of the business. It helps in planning and controlling the…

Q: True or False questions D. The government-wide financial statements report the economic resources…

A: There are two methods of recording accounting, Cash basis & accrual basis. Cash Basis Revenue…

Q: How do governmental funds report capital outlay in fund financial statements? How do government-wide…

A: Explain how governmental funds report capital outlay in fund financial statements and how government…

Q: How are budget results shown in the financial reporting of a state or local government?

A: Comparisons between the original budget, the final budget (as amended) and actual figures must be…

Q: This type of finance is concerned with the revenue and disbursement of government agencies. a.…

A: Finance, money or funds is very important for a business organisation. Funds will be used for…

Q: What are the measurement focuses and basis of accounting of governmental funds? What is the…

A: It is necessary that every government agency and department maintain accurate financial accounting…

Q: What is the purpose of the capital projects fund, debt service fund, and permanent fund. Please…

A: The creation of a fund is mostly done to pool up resources required for a particular purpose. funds…

Q: Describe the role of the public finance in:   the economy explain the allocation of resources and…

A: Solution- (1)    Immature countries are hooked in to fast economic development which needs colossal…

Q: federal government finance and service it outstanding debt

A: The national debt level of the United States is a measurement of how much the federal government…

Q: The governmental fund financial statements are intended to report on fiscal accountability.…

A: Fiscal accountability refers to developing and maintaining budget and independent fiscal review.

Q: 6   Which of the following is a primary objective of financial reporting by state and local…

A: The correct answer is “third Option”.

Q: What are the sources of finance for local government?

A: The local governments must generate sufficient revenues to finance their administrative operations.…

Q: What are the two major divisions reported in government-wide financial statements? What funds are…

A: Two major divisions reported in government-wide financial statements: Business type activities…

Q: What are some major adjustments required when converting from fund financial statements to…

A: major adjustment for converting from fund financial statements to government-wide statements are…

Q: Which of the following is true regarding the government-wide financial statements? a. The…

A: Government-wide Financial statement: It is the statement of consists of a statement of net assets…

Q: Which of the following statements is correct about the reporting of governmental funds? Fund…

A: Financial statements: Financial statements are condensed summary of transactions communicated in the…

Q: What are the basic financial statements that a state or local government now produces?

A: The following are the basic financial statements that a state or local government now produces:…

Q: True or false: Government can issue both stocks and bonds to finance government expenditures

A: Government need to raise finance for expenditures that it needs to undertake for running the country…

Q: Why accounting for budgetary accounts, Accounting for Disbursement, Revenue Receipts and other…

A: The government will run its operations for the welfare of the people. The government also will try…

Q: All of the following are requirements unique to a government entity. Which is not?  Group of answer…

A: Government entity refers to any nation or any government who is serving for societal benefit. It…

Q: What is the general rule for recognizing property taxes as revenues? How would property taxes be…

A: According to the definition of Property Tax Money, it is the amount of revenue earned by the…

Q: What federal fund is most like a custodial fund used by state and local governments?

A: Here given the details of the federal fund which is treated as the custodial fund which can be used…

Q: Can you explain how budgetary accounting contributes to achieving budgetary control over revenues…

A: Budgetary control: It is a financial tool for managing income and expenditure. In other words,…

Q: Which of the following identifies the reason that we need reconciliations between governmental funds…

A: To identifies the reason that we need reconciliations between governmental funds and government-wide…

Q: What are examples of various types of business-type funds used in governmental units? How are…

A: Fund used by Government Units: When the federal government completes tax-supported activities, a…

Q: what are the advantages of having a treasury department?

A: Treasury department is responsible for managing the financial , operational and reputation all risk…

Q: government

A: Answer: Government accounting: Government accounting is accounting methods that are being followed…

Q: Please describe the difference between government-wide financial statements and fund-basis financial…

A: Fund accounting seems to be a type of accounting utilized by non-profit organizations to manage the…

Q: What is a basic financial statement that is required for federal agencies?

A: Financial statement refers to those statements which are prepared through the business at the end of…