--%>
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 : What are Governmental Cost Funds

    Governmental Cost Funds: For lawful basis accounting and budgeting aims, funds which derive revenue from the taxes, licenses, and fees.

    		•
  • Q : Equilibrium price level and level of

    Normal 0 false false

  • Q : Explain Generally Accepted Accounting

    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 (

    		•
  • Q : Exdplain how does continuous

    Normal 0 false false

    		•
  • Q : Define One-Time Cost One-Time Cost : A

    One-Time Cost: A proposed or real expenditure that is non-recurring (generally only in one annual budget) and not permanently comprised in baseline expenditures. The departments make baseline adjustments to eradicate prior year one-time costs and suit

    		•
  • 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 : What is Non-governmental Cost Funds

    Nongovernmental Cost Funds: For lawful basis purposes, employed to budget and account for revenues other than common and special taxes, licenses, and fees or some other state revenues.

    		•
  • Q : Describe GATT and its goal Describe

    Describe GATT, and its goal? GATT is the General Agreement on Tariffs & Trade. This is a treaty that seeks to decrease trade barriers among participant nations.

    		•
  • Q : Define Fund Balance Fund Balance : For

    Fund Balance: For accounting aims, the excess of a fund’s assets over its liabilities. And for budgeting aims, the surplus of a fund’s resources over its expenses.

    		•
  • Q : What is Carryover Carryover : The

    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,

    		•