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.
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Fiscal Impact Analysis: Usually refers to a section of an analysis (example, bill analysis) which recognizes the costs and revenue impact of a proposal and, to the level possible, a particular numeric estimate for appropriate fiscal years.
Merit Salary Adjustment (MSA): The cost factor resultant from the periodic raise in salaries paid to the personnel occupying authorized positions. The personnel usually receive a salary raise of 5 percent per year up to the upper sala
Why does money contain time value?Positive interest rates denote that money has time value. While one person lets another borrow money, the first person needs compensation in exchange for decreasing current consumption. The person who borr
Continuous Appropriation: The constitutional or statutory expenses authorization that is renewed each year without additional legislative action. The amount obtainable might be particular, recurring sum each year; all or a specified part of the procee
Budget Cycle: The time period needed to made a state financial plan and enacts that part of it applying to the budget year. The Significant events in the cycle comprise: • The preparation of G
Generally Accepted Accounting Principles (GAAP): The accounting rules, principles, conventions, and procedures which are employed for accounting and financial reporting. The GAAP for governments are put by the Governmental Accounting Standards Board (
Continuing Appropriation: This is an appropriation for the set amount which is obtainable for more than 1-year.
Carryover: The unencumbered equilibrium of an appropriation which continues to be obtainable for expenditure in years following to the year of enactment. For illustration, when a three-year appropriation is not completely encumbered in the first year,
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