--%>
Assignment Help - homework help

Budgetary accounts

Accounts used in governmental accounting to record the budget amounts but not the actual amount. For example, at the beginning of the accounting period, the planned amount of tax revenue, revenue from license, and inflows from fines would be recorded as one amount in the budgetary account for estimated revenue of a city. During the accounting period, no other entries would be made to the budgetary account for esti- mated or real revenue. Then the end of the accounting period, the budget entry would be reversed. Each budgetary account has subsidiary accounts associated with it. The estimated revenues budgetary account may have subsidiary accounts that identify the individual sources of the revenues by type, such as fines, licenses, property taxes etc. The budget amount is entered in the subsidiary accounts with a debit. The actual cash collections are entered as a credit in the subsidiary accounts, with the debit for the total to cash 

 

   Related Questions in Managerial Accounting

  • Q : Define partnership A partnership is

    A partnership is stated as ‘the relationship which subsists among persons carrying on business in common with a view togain or profit’

    		•
  • Q : What is Activity Analysis Activity

    Activity Analysis: The identification and explanation of activities in an association. The activity analysis comprises determining what activities are completed within a department and how many people execute the activities, how much

    		•
  • Q : Regions of decision making process What

    What are the possible broad regions of decision making process where management accounting information is required?

    		•
  • Q : Effect of illegal obligations on cost

    Normal 0 false false

  • Q : Management accounting as an information

    Explain Management accounting as an information system in brief?

    		•
  • Q : What is Job Order Costing Job Order

    Job Order Costing: A technique of cost accounting which accrued costs for individual jobs or lots. A job might be a service or manufactured item, like the repair of tools or the treatment of a patient in the hospital.

    		•
  • Q : Chapter 10 Unfocused Books is a

    Unfocused Books is a discount retail bookshop that has three departments: fiction, non-fiction and children’s books. Sales and cost of sales for each department are shown below. In addition, each department has its own fixed costs for staffing and takes a one-third share of rental and management cos

    		•
  • Q : Major tasks of board that runs the

    Write down a short note on the major tasks of board that runs the organization?

    		•
  • Q : Comparative-Advantage Approach to

    We study optimal government debt maturity in a model where investors derive monetary servicesfrom holding riskless short-term securities. In a simple setting where the government is the onlyissuer of such riskless paper, it trades off the monetary premium associated w

    		•
  • Q : Define Employee Stock Ownership

    Employee Stock Ownership: It is a qualified, defined contribution, employee benefit (that is, ERISA) plan designed to invest mainly in the stock of sponsoring employer. ESOPs are "qualified" in the logic that the ESOP's sponsoring company, the selling

    		•