--%>
Assignment Help - homework help

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 : Define Fixed Cost Fixed Cost: The cost

    Fixed Cost: The cost which does not differ in the short term with the volume of action. Fixed cost information is helpful for cost savings by regulating existing capacity, or by removing idle facilities. Also termed as Non-Variable Cost or the Constan

    		•
  • Q : Budgetary accounts Accounts used in

    Accounts used in governmental accounting to record the budget amounts but not the actual amount. For example, at the beginning of the accounting period, the planned amount of tax revenue, revenue from license, and inflows from fines would be recorded as one amount in

    		•
  • Q : Reaping the benefits of IT What do you

    What do you mean by the term reaping the benefits of IT? Explain n brief?

    		•
  • Q : Explain Investor Accounting Investor

    Investor Accounting: It is an individual who commits money to investment products with the hope of financial return. Usually, the primary concern of an investor is to diminish risk whereas maximizing return, as opposed to a speculator, who is willing

    		•
  • Q : Acquisition entry on Balance Sheet 1.

    Q : Effect of illegal obligations on cost

    Normal 0 false false

  • Q : What is Direct Cost Direct Cost : The

    Direct Cost: The cost of resources directly used by an activity. The direct costs are assigned to actions by direct drawing of units of resources used by individual actions. A cost which is particularly recognized with a single cost o

    		•
  • Q : Explain Responsibility Segment

    Responsibility Segment: A noteworthy organizational, functional, operational, or process component that has the characteristics as: (i) Its manager reports to the entity's top management;

  • Q : Why most of the larger businesses are

    Why most of the larger businesses are not managed as the single unit through one manager?

    		•
  • Q : Define Cost Avoidance Cost Avoidance :

    Cost Avoidance: The action taken to decrease future costs, like replacing parts before they fail and cause harm to other portions. Cost avoidance might incur higher (or extra) costs in the short run however the final or life-cycle cost would be lower.

    		•