What is Continuing Appropriation
Continuing Appropriation: This is an appropriation for the set amount which is obtainable for more than 1-year.
Describe time value of money?The time value of money means that money you have in your hand today is worth more than money you expect to obtain in the future. Likewise, money you have to pay out today is a greater burden than the similar a
Describe how management aims are incorporated into proforma financial statements.Management decide a target goal, and forecasters generate proforma financial statements under the assumption that the goal will be
Fund: A lawful budgeting and accounting entity which offers for the segregation of moneys or other resources in the State Treasury for obligations in accordance with particular restrictions or limitations. A separate set of accounts should be maintain
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.
Normal 0 false false
Expenditure: The expenditures reported on a department’s annual financial reports and “past year” budget documents comprises of amounts paid and accruals (comprising encumbrances and payables) for obligations made for the fiscal year
Encumbrance: The commitment of all or portion of an appropriation for future expenses. The Encumbrances symbolize commitments associated to unfilled purchase orders or unfulfilled contracts. Exceptional encumbrances are recognized as budgetary expense
18,76,764
1927116 Asked
3,689
Active Tutors
1460657
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!