Describe accumulated depreciation
Describe accumulated depreciation?Depreciation is the allocation of an asset's primary cost over time. Accumulated depreciation is the sum of all the depreciation cost that has been identified to date.
How do we compute the payback period for proposed capital budgeting project? What are the basic criticisms of the payback method? We compute the payback period for proposed project through adding a project's positive cash flows, one period at t
Accounts receivable are sometimes not gathered. Why do companies extend trade credit while they could insist on cash for all sales? Extending trade credit approximately leads to more sales for all time. If the incremental cash flows, comprisin
Workload Budget Adjustment: Any adjustment to the presently authorized budget obligatory to maintain the level of service needed to fund a Workload Budget, as stated in the Government Code Section 13308.05. A workload budget adjustment is as well term
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
Statewide Cost Allocation Plan (SWCAP): It is the amount of state administrative, General Fund costs (example, amounts expended by the central service departments like the State Personnel Board, State Treasurer’s Office, State C
What happens while a bank charges discount interest on a loan? While a bank charges discount interest on a loan the required interest payment is subtracted through the loan proceeds at the time the loan is made. It makes the effective interest
Describe some of the government requirements imposed onto a public corporation which are not imposed on a private, intimately held corporation? Public corporations ought to submit audited financial statements to the government for release to the
Describe the benefits of "paying late" (but not too late) and how do companies try to do this? Since money has time value, the later cash is paid, but not too late, the better. Companies employ remote disbursement banks to facilitate holding at
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.
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
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