--%>

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 : Why you want to be an accountant Why

    Why you want to be an accountant? Normal 0 false

  • 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 Job Costing Job Costing : It is

    Job Costing: It is an order-specific costing method, utilized in situations where each job is distinct and is executed to the customer's specifications. Job costing includes keeping an account of direct and in-direct costs.

    Q : Performance evaluation and

    Write down a short note on the Performance evaluation and control in decision making process?

  • Q : Describe fluctuating capital of partners

    Describe fluctuating capital of partners? Answer: Partner‘s capital is stated to be fluctuating if capital modifies with every transaction in the capital accou

  • Q : Acquisition entry on Balance Sheet 1.

    Q : Explain Full-Absorption Costing

    Full-Absorption Costing: It is a technique of costing that assigns (or absorbs) all labor, material, and service or manufacturing facilities and support costs to products or another cost objects. The costs assigned comprise those which do and do not d

  • Q : Asset retirement obligation Significant

    Significant costs associated with the disposal of asset. Accounting for asset retirement obligations requires estimating the cost and discounting estimate. The present value added to the asset's depreciable base and a liability is recorded for the obligation. Every year, interest expense is added

  • Q : Cash budget A plan for the cash coming

    A plan for the cash coming into and going out of a business. Based on the sale forecast,  the timing and amounts of  cash receipts. Based on forecast of resources necessary to  meet the sale forecast, management budgets the cash disbursements. This proc

  • 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