--%>
Assignment Help - homework help

Explain Modified Accrual Basis

Modified Accrual Basis: The base of accounting in which revenues are acknowledged when the underlying transaction has occurred as of the last day of the fiscal year and the quantity is measurable and accessible to finance expenditures of the present period (that is, the actual collection will take place either during the present period or after the end of the present period to be employed to pay present year-end liabilities). The expenditures are accrued whenever the obligations are formed, except for amounts payable from the future fiscal year appropriations. This base is usually used for the special Fund and general funds.

   Related Questions in Finance Basics

  • Q : Describe the effect of stock dividends

    Describe the effect of stock (not cash) dividends and stock splits onto the market price of common stock? Why do corporations state stock splits and stock dividends? Stock splits & stock dividends decrease the price per share of the common

    		•
  • Q : Effect of change on equilibrium

    Normal 0 false false

  • Q : Explain Expenditures by Category

    Expenditures by Category: A budget display, for each and every department, which reflects actual precedent year, estimated present year, and proposed budget year expenses presented by the character of expenditure (example, State Operations and/or Loca

    		•
  • Q : Explain Unscheduled Reimbursements

    Unscheduled Reimbursements: The Reimbursements collected by an agency which were not budgeted and are accounted for by an individual reimbursement class of an appropriation. To expend unscheduled reimbursements, the budget revision sh

    		•
  • Q : Define operating leverage effect and

    Define operating leverage effect and what causes it? Describe potential benefits and negative consequences of high operating leverage? The operating leverage effect is the phenomenon where a small change in sales triggers a comparatively large

    		•
  • Q : Public finance can you do this

    can you do this homework? My state Taxes

    		•
  • Q : Describe factors cause change in

    Normal 0 false false

    		•
  • Q : Question on price level Normal 0 false

    Normal 0 false false

  • Q : What is Administration Administration :

    Administration: It refers to the Governor's Office and those individuals, subdivisions, and offices reporting to it (example, the Department of Finance).

    		•
  • Q : Define Current Year Current Year (CY):

    Current Year (CY): It is a term utilized in budgeting and accounting to designate the operations of the current fiscal year in contrast to past or future periods.

    		•