--%>

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 : Balloon payment The final payment in a

    The final payment in a partially amortized loan. The balloon payment repay the entire remaining principal and is usually larger than previous payments on the loan. Loan that is set up with balloon payments allow the borrower to make the purchase and have a lower payme

  • Q : Things which Opportunities comprises

    Write a brief note on the things which Opportunities comprises?

  • Q : Reliability-Accounting information What

    What do you mean by the term Reliability which is accounting information?

  • Q : Benchmark test The process of testing a

    The process of testing a new software program using actual data and comparing the results to the alternative soft wares. The alternative can be new software or the organization's existing system. The test should be examined the software's accuracy and efficiency.

  • Q : Define Responsibility Center

    Responsibility Center: It is an organizational unit headed by the manager or a group of managers who are responsible for its actions. The responsibility centers can be measured as revenue centers (that is responsible for revenue or sa

  • Q : Acquisition entry on Balance Sheet 1.

    Q : Explain Activity-Based Costing

    Activity-Based Costing: It is a cost accounting process that measures the cost and performance of process related activities and cost objects. It assigns cost to cost objects, like products or customers, based on their utilization of

  • Q : What is a Product Product : Any

    Product: Any traceable, discrete, or measurable good or service given to a customer. Frequently goods are termed to as tangible products, and services are termed to as intangible products. A good or service is the product result of a procedure resulta

  • Q : Cash flows from operating activities

    The first section of the statement of cash-flow. Cash flows from operating activities include transactions (involving cash) that relate to the normal busi- ness activities of the entity. Cash-flows in this section usually involve cash and other current asset or curren

  • Q : Functions explain how the provision of

    explain how the provision of management accounting information can assist the management of a company with planning, controlling, decision making and communicating