Acc 460 Week 3 Complete Uop Exam Assignment

ACC 460 Week 3 Complete

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DQ1.What is the revenue recognition criteria used in government entities? What are some examples of government sources of revenue? How are these sources accounted for?

DQ2.What is an inter fund transfer? Why would government entity transfer money from one fund to another? How are inter fund transfers reported on a financial report?

DQ3.How can a government entity prepare government-wide statements using the fund statements? What is a governmental reporting entity?

DQ4.For what types of activities are internal service funds used to account? Provide several examples. Is a government required to account for the activities you cite in an internal service fund, or may it account for them instead in its general fund?

Individual Assignment - Ch. 2, 4, 5, & 6 Textbook Exercises

Resources: Ch. 2, 4, 5, & 6 of Government and Not-for-Profit Accounting

Prepare written answers to the following assignments from Government and Not-for-Profit Accounting:

• Ch. 2: Exercise 2-1, Questions 1 through 10

• Ch. 4: Exercise 4-1, Questions 1 through 10, and Exercise 4-7, Question 1 & 2

• Ch. 5: Questions for Review and Discussion 1 & 2

O In your answers to the Ch. 5 questions, address how encumbrances affect the expenses and expenditures.

• Ch. 6: Questions for Review and Discussion 1 & 6

Learning Team Assignment - Ch. 4 & 6 Textbook Problems

Resources: Ch. 4 & 6 of Government and Not-for-Profit Accounting

Prepare written answers to the following problems from Government and Not-for-Profit Accounting:

• Ch. 4: Problem 4-16 – The distinction between exchange and nonexchange revenues is not always obvious.

• Ch. 6: Continuing Problems 1–4, found at the beginning of the Problems section at the end of the chapter. For this assignment, use the CAFR your team selected...