--%>

Appropriations

The term used in governmental accounting to identify amounts that the governmental unit is authorized to spend for debt repayment, operating activities, and asset acquisition. The appropriations account is a budgetary account that acts as a control account for all budgeted expenditures. More usually, appropriations refer to any funds dedicated to a particular purpose. As like at the beginning of the period, balance of expenditures is entered as the budget amount to the appropriations control account. It has a subsidiary account for each type of expenditure, such as supplies or salaries. The budgeted amount of each type of appropriation is entered as a credit to the corresponding subsidiary account; the budgeted amount of salaries is entered in the salary expenditures subsidiary account. In the mean while the accounting period, the actual amount of expenditures for salaries is entered as a debit to the appropriate subsidiary account. At any point in time the actual amount spent on salaries (the debit balance) can be compared to the budgeted amount (the credit balance).

 

 

 

   Related Questions in Managerial Accounting

  • Q : Developing objectives and plans in

    Write down a short note on the developing objectives and plans in decision making process?

  • Q : Explain Cash Management Cash Management

    Cash Management: Cash Management is the management of cash balances of a concern in such a way as to maximize the accessibility of cash not invested in inventories or fixed assets and to ignore the risk of insolvency. According to Keynes there are thr

  • Q : Define Profit or Loss Analysis Profit

    Profit or Loss (P&L) Analysis: A financial statement which summarizes the revenues, costs and expenses acquired during a particular period of time - in general a fiscal quarter or year. Such records give information which exhibits the capability o

  • Q : Assigning Support cost What are various

    What are various methods to assign support cost?

  • Q : Calculate From the books of Aggarwal

    From the books of Aggarwal Bors, the following information have been extracted: Rs. Sales 2,40,000 Variable costs 1,44,000 Fixed costs 26,000 Profit before tax 70,000 Rate of tax 40% The firm is proposing to buy a new plant which can generate additional annual profit of Rs. 10,000. The fixed

  • Q : Bank reconciliation statement Explain

    Explain the term bank reconciliation statement?

  • 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

  • Q : Management Accounting Project Please

    Please let me know the cost of getting this assignment completed?

  • Q : Business law Hello, I am  Lauren

    Hello, I am Lauren Garcia, i have paid for question, please answer me here. Describe what parts of business law are involved in the following scenario. What issues are in

  • Q : Cash merger Business combination in

    Business combination in which the acquiring corporation buys all the assets of the target, recording them at fair market values. The target is absorbed into the acquiring corpora- tion, and has gains on the sales of the assets that appear on its last tax return. In ad