Governmental Accounting: Encumbrances
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How does the use of encumbrances improve budgetary control over expenditures for a state or local government?
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This solution explains how the use of encumbrances improve budgetary control over expenditures for a state or local government.
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Encumbrances in governmental accounting are committed expenditures associated with unfilled contracts for goods and services such as purchase orders (www.answers.com). The purpose of encumbrances accounting is to prevent future expenditures of funds that have already been committed in the budget ...
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