Define CALSTARS
CALSTARS: The acronym for the California State Accounting and Reporting System that is the state's primary accounting system. Most of the departments presently use CALSTARS.
Explain working of accounts receivable factoring? And describe benefits to the two parties involved and risks? Factoring is while one firm sells accounts receivable (AR) to another. The purchasing firm is termed as a factor. The factor earns
Feeder Funds: For lawful basis accounting purposes, funds into which some taxes or fees are deposited on collection. In some situations administrative costs, collection expenses, and refunds are paid. The balance of such funds is transferable at any t
Final Budget Summary: A document generated by the Department of Finance subsequent to enactment of the Budget Act that reflects the Budget Act, any vetoes to the language and/or appropriations, technical corrections to the Budget Act, and summing up t
Schedule 11: It is the outdated word for “Supplementary Schedule of Operating Expenses and Equipment.”
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Public Service Enterprise Funds: For legal base accounting purposes, the fund categorization which identifies funds utilized to account for the transactions of self-supporting enterprises which render goods or services for a direct charge to user (tha
Provision: The language in a bill or act which imposes necessities or constraints on actions or expenditures of the state. The provisions are frequently employed to constrain the expenditure of appropriations however it might also be employed to give
Subcommittee: The smaller groupings into which the Senate or Assembly committees are frequently divided. For illustration, the fiscal committees which hear the Budget Bill are classified into subcommittees usually by departments or subject area (examp
Judgments: It is generally refers to decisions made by courts against the state. The payment of judgments is subject to a range of controls and procedures.
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