Define Current Year
Current Year (CY): It is a term utilized in budgeting and accounting to designate the operations of the current fiscal year in contrast to past or future periods.
Describe how a firm find out the optimal level of current assets. The optimal level of working capital is finding out by determining the amount that balances the requirement for liquidity and for profitability.
Schedule: The explanation of an appropriation in the Budget Bill or Act, exhibiting its distribution to each of the programs, categories, or therefore projects. OR The supplemen
Schedule 7A: The summary version of the State Controller’s Office detailed Schedule 8 position register for each department. The information replicated in this schedule is the base for the “Salaries and Wages Supplement” exhibited on
Abatement: A decrease to an expense which has already been made. In state accounting, only specific kinds of receipts are accounted for as abatements, comprising refund of overpayment of salaries, rebates from vendors and third partie
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Refund to Reverted Appropriations: It is a receipt account to record the return of monies (example, abatements and reimbursements) to appropriations which have reverted.
Why do businesses spend effort, time and money to generate forecasts? Describe.Businesses succeed or fail based on how well prepared they are to deal along with the situations they confront in the future. Hence they expend considerable sum
Under what condition would the U.S. dollar and the Canadian dollar said to be have achieved purchasing power parity? The U.S. dollar and the Canadian dollar would be assumed to have achieved purchasing power parity while the exchange rate reflec
Describe advantages and disadvantages of the internal rate of return method? The internal rate of return method is discounted cash flow method and number expressed like a percentage. Typically these are seen as advantages. The main disadvantag
Governmental Cost Funds: For lawful basis accounting and budgeting aims, funds which derive revenue from the taxes, licenses, and fees.
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