What do you mean by the term Year of Appropriation
Year of Appropriation (YOA): It refers to the initial year of an appropriation.
Governor's Budget: The publication the Governor represents to the Legislature, by January 10 every year. It has recommendations and approximates for the state’s financial operations for the budget year. This also displays the real revenues and e
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Availability Period: The time period throughout which an appropriation might be encumbered (that is, committed for expenditure), generally specified by the law making the appropriation. When no particular time is given in financial legislation, the pe
Describe the financial leverage effect and what causes it? Explain the potential benefits and negative consequences of high financial leverage? Financial leverage is the additional volatility of overall income caused through the presence of fix
Sunset Clause: The language contained in a law which states the expiration (termination) date for that statute.
Customers arrive at a bank with 2 tellers. The manager took the following data for 11 customers during a busy time. The manager has asked you to:(a) Create an event log. (b) Calculat
Working Capital and Revolving Fund: For legal base accounting purposes, fund categorization for funds employed to account for the transactions of self-supporting enterprises which render goods or services for a direct charge to the user that is genera
Describe difference among pro forma financial statements and a cash budget? Depict why pro forma financial statements are not utilized to forecast cash needs. Pro forma income statements deal along with revenues and expenses which are not alway
Define the term State Fiscal Year: This is the period beginning from July 1 and continuing through the subsequent June 30.
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