--%>

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 : Cash shortage/overage An income

    An income statement item that represents the difference between the actual cash amount and an accounting measure of how much cash there should be. The most common example exists in a retail situation where the cash in the cash register is compared to the register tape

  • Q : Illustrations of unethical and

    Write down a brief note on the illustrations of unethical and unacceptable actions?

  • Q : Why wealth creation is a longer-term

    Write a short note on why wealth creation is a longer-term concept?

  • Q : Bank reconciliation statement Explain

    Explain the term bank reconciliation statement?

  • Q : Chapter 10 Unfocused Books is a

    Unfocused Books is a discount retail bookshop that has three departments: fiction, non-fiction and children’s books. Sales and cost of sales for each department are shown below. In addition, each department has its own fixed costs for staffing and takes a one-third share of rental and management cos

  • Q : What are the steps involved in Process

    ACCOUNTING PROCESS:  The process of Accounting involves the following steps:

    Q : Break even analysis based homework I

    I need homework help in accounting, 10 questions there about break even analysis. let us know if you can so it

  • Q : Developing objectives and plans in

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

  • Q : When does a partnership exist A) A

    A) A partnership may be formed either expressly or impliedly, and in each case all the circumstances should be examined in order to ascertain: The intention of the parties; Whether there has been a

  • Q : Partners-firm and firms name What do

    What do you understand by the terms partners, firm and firms name? Answer: The persons who have entered into a Partnership with each other are individually termed 'P