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.
How are the members of the board of directors of corporation selected and to whom do these board members owe their prime allegiance? Members of corporation's board of directors are chosen by the common stockholders and owe their allegiance to th
Clarify the duties of the financial manager within a business firm.Financial managers measure the firm's performance, find out what the financial consequences will be if the firm maintains its present course or changes it, and suggest how the fi
Briefly describe the terms proprietorship, partnership, and corporation.A proprietorship is a business owned by one person. Two or more people who join together to develop a business make up a partnership. It can be done on an inf
Reimbursement Warrant (or Revenue Anticipation Warrant): A warrant which has been sold by the State Controller’s Office, as an outcome of a cash shortage in th
Change Book System: The system the Department of Finance employs to record all the legislative modifications (comprising changes stated by the Administration and approved by the Legislature) made to the Governor's Budget and the last actions on the bu
Working Capital and Revolving Fund: For legal base accounting purposes, fund categorization for funds employed to account for the transactions of self-supporting enterprises which render goods or services for a direct charge to the user that is genera
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Reversion: The return of the unused part of an appropriation to the fund from which the appropriation was made, usually two years (that is, four years for federal funds) after the last day of an appropriation’s accessibility period. The Budget A
Describe the terminal value calculation at the ending of the forecast period. Why is it crucial? The firm which business operation is being valued is not accepted to suddenly cease operating at the ending of the discrete forecasting period, how
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