--%>
Assignment Help - homework help

Explain Year of Budget

Year of Budget (YOB): In this the fiscal year revenues and expenses are recognized. For revenues, this is usually the fiscal year whenever revenues are earned. For expenses, this is usually the fiscal year whenever obligations, comprising encumbrances, have been made during the accessibility period of the appropriation. Whenever the availability period of encumbrance of an appropriation is 1-year (example, most of the Budget Act items), YOB is similar as year of appropriation (YOA) and year of completion (YOC). Though, whenever the accessibility period is more than 1-year, YOB might be any fiscal year throughout the availability period, comprising YOA or YOC, as suitable. For illustration, an appropriation made in 2010-11 and is accessible for 3-years, the YOA is 2010 and the YOC is 2012. When an obligation is made in 2011-12, the YOB for this obligation is 2011. In the CALSTARS, YOB is termed to as funding fiscal year (FFY). The rules of recognition are not similar for all funds depending on the suitable basis of accounting for the fund kinds or other factors.

   Related Questions in Finance Basics

  • Q : Externally held public debt and

    Normal 0 false false

  • Q : Assignments i want to write final state

    i want to write final state report. My state is Texas. You can use the resources that i attached, also you can use another resources to cover the outlines.

    		•
  • Q : Clarify the duties of the financial

    Clarify the duties of the financial manager within a business firm.Financial managers measure the firm's performance, find out what the financial consequences will be if the firm maintains its present course or changes it, and suggest how the fi

    		•
  • Q : What is a Category Category: A grouping

    Category: A grouping of related kinds of expenditures, like Personal Services, Reimbursements, Operating Expenses and Equipment, Special Items of Expense, Un-classified, Local Costs, Capital Costs, and inner Cost Recovery.

    		•
  • Q : Three examples of mutually exclusive

    Provide three examples of mutually exclusive projects. Mutually exclusive projects are projects which compete against each other for our selection. If firm were considering the purchase of new computer, requiring only one computer, then the pro

    		•
  • Q : Change in supply of money Normal 0

    Normal 0 false false

  • Q : Influence the economy in short run and

    Normal 0 false false

  • Q : What is Other Finance Refund to

    Refund to Reverted Appropriations: It is a receipt account to record the return of monies (example, abatements and reimbursements) to appropriations which have reverted.

    		•
  • Q : What is Audit Audit : Usually a review

    Audit: Usually a review of financial statements or performance activity (like an agency or program) to establish conformity or compliance with the applicable laws, regulations, and/or standards. The state has three central association

    		•
  • Q : Explain Merit Salary Adjustment Merit

    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

    		•