--%>
Assignment Help - homework help

Explain Modified Accrual Basis

Modified Accrual Basis: The base of accounting in which revenues are acknowledged when the underlying transaction has occurred as of the last day of the fiscal year and the quantity is measurable and accessible to finance expenditures of the present period (that is, the actual collection will take place either during the present period or after the end of the present period to be employed to pay present year-end liabilities). The expenditures are accrued whenever the obligations are formed, except for amounts payable from the future fiscal year appropriations. This base is usually used for the special Fund and general funds.

   Related Questions in Finance Basics

  • Q : Explain Pro Rata Pro Rata : It is the

    Pro Rata: It is the amount of state administrative costs, paid from General Fund and the Central Service Cost Recovery Fund (example, amounts expended by the central service departments like the State Treasurer's Office, State Controller's Office, Sta

    		•
  • Q : Describe the Hirfindahl-Hirschman Index

    Describe the Hirfindahl-Hirschman Index?The Hirfindahl-Hirschman Index, or HHI, is the standard measure employed by economists to evaluate market concentration. The greater the level of concentration amongst competitors, the higher the HHI. The

    		•
  • Q : Purchasing power parity of US and

    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

    		•
  • Q : Define Non-add Non-add : Refers to the

    Non-add: Refers to the numerical value which is displayed in parentheses for informational purposes however is not comprised in computing totals, generally as the amounts are by now accounted for in the budget system or display.

    		•
  • Q : How does depreciation influence cash

    Normal 0 false false

    		•
  • Q : Explain Overhead Overhead : Those

    Overhead: Those elements of cost essential in the production of an article or the performance of a service that are of such a nature which the amount applicable to the product or service can’t be determined directly. Generally they relate to tho

    		•
  • Q : What is Special Items of Expense

    Special Items of Expense: It is an expenditure category which covers nonrecurring big expenditures or special aim expenditures which usually need a separate appropriation (or else need separation for clarity).

    		•
  • Q : What are Staff Benefits Staff Benefits

    Staff Benefits: It is an object of expenditure symbolizing the state costs of contributions for employee’s retirement, health benefits, OASDI, and non-industrial disability leave advantages.

    		•
  • Q : How do flotation costs influence the

    Normal 0 false false

  • Q : Describe the importance of additional

    Normal 0 false false