Explore BrainMass

Explore BrainMass

    Government to Fund Accounting

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    Please help with a government to fund accounting question.

    Through what tool or method is the conversion of government accounting statements accomplished? And alternately, how is it not accomplished?

    © BrainMass Inc. brainmass.com June 4, 2020, 2:03 am ad1c9bdddf
    https://brainmass.com/business/the-role-of-government-and-regulation/government-fund-accounting-434963

    Solution Preview

    The order in which a government agency converts from fund accounting to the government wide system is important. If the order is reversed or not followed precisely then the conversion cannot be accomplished. In other words, GASB provides for a systematic and ordered approach to conversion.

    Paragraph 130 of GASB 34 requires that the original budget plus changes and carryovers (encumbrances and continued appropriations) from the prior fiscal year be shown ...

    Solution Summary

    Describes the tools and method used to convert government accounting statements to fund accounting statements.

    $2.19

    ADVERTISEMENT