Assignment: Government & Institutional Accounting
Read Chapters 3 (Governmental Operating Statement Accounts) and Chapter 4 (Accounting for Governmental Operating Activities) of your Accounting for Governmental and Nonprofit entities Book (16th or 17th edition) and write a 1,700 word essay that covers the following topics:
- Difference between expenses and expenditures
- What is the importance of reporting budgeted and actual results
- Why are taxes important in governmental accounting?
- What are ad valorem? What is a property assessment?
- What is the difference between a special assessment, a license, a fine, and miscellaneous revenue?
- What are interfund loans and interfund transfers?
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.