Define the term State Fiscal Year
Define the term State Fiscal Year: This is the period beginning from July 1 and continuing through the subsequent June 30.
Describe Treasury bill? How risky is it?Treasury bills are short term debt instruments issued through the U.S. Treasury which are sold at a discount and pay face value at maturity. They are very close to risk-free as they are backed throug
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Department: The governmental organization, generally belonging to the third level of the state organizational hierarchy as stated in the Uniform Codes Manual.
Abolishment of Fund: It is a closure of fund pursuant to the operation of law. The funds might also be administratively eliminated by the Department of Finance with the concurrence of the State Controller’s Office. Whenever a sp
What is Cash Flow Statement: It is a statement of cash receipts and disbursements for a particular time period.
Why do financial managers compute the marginal tax rate?Financial managers utilize marginal tax rates to estimate the future after tax cash flows from investments. Because they are interested in how much of the next dollar earned through n
Fund Balance: For accounting aims, the excess of a fund’s assets over its liabilities. And for budgeting aims, the surplus of a fund’s resources over its expenses.
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