--%>
Assignment Help - homework help

Explain Generally Accepted Accounting Principles

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 (that is, GASB), the accounting and financial reporting standards setting body for local and state governments.

   Related Questions in Finance Basics

  • Q : Define Assembly Assembly : The

    Assembly: The California's lower house of Legislature included of 80 members. As an outcome of Proposition 140 (that is, passed in 1990) and Proposition 28 (that is, passed in 2012), members elected in or after 2012 might serve 12-years in the Legisla

    		•
  • Q : International Business and Finance

    Alpha and Beta Companies can borrow at the described rates. Alpha Beta Moody's credit rating Aa Baa Fixed-rate borrowing cost 10.5% 12.0% Floating-rate borrow

    		•
  • Q : Explain Statewide Cost Allocation Plan

    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

    		•
  • Q : What is Revenue Anticipation Notes

    Revenue Anticipation Notes (RANs): The cash management tool usually used to remove cash flow imbalances in the General Fund in a given fiscal year. The RANs are not a budget deficit-financing tool.

    		•
  • Q : Explain three career opportunities in

    List and explain the three career opportunities in the field of finance.Finance has three main career paths: financial management, financial markets and institutions, and investments. Financial managem

    		•
  • Q : Emergency Banking Act What did the

    What did the Emergency Banking Act do?

    		•
  • Q : Depict the slope of the line Normal 0

    Normal 0 false false

  • Q : What is Personal Services Personal

    Personal Services: It is a category of expenditure that comprises such objects of expenditures as the payment of wages and salaries of state employees and employee advantages, comprising the state's contribution to the Public Employees' Retirement Fun

    		•
  • Q : What is Expenditure Authority

    Expenditure Authority: The authorization to make expenditure (generally by a budget act appropriation, provisional language or some other legislation).

    		•
  • Q : What is the schedule of Federal Funds

    What is the schedule of Federal Funds and Reimbursements, Supplementary: The supplemental schedule proposed by departments throughout budget preparation that exhibits the federal receipts and reimbursements through source.

    		•