Assignment: Governmental And Not-For-Profit Accounting Funds
With regards to governmental accounting, write a paper that answers the following:
1. What is a fund and how is it used?
2. How does the balance of a fund represent the available spendable resources of the entity?
3. Why are there specialized funds in the different governmental units (e.g., debt service funds, special revenue funds, capital project funds)?
4. Describe 3 of these funds in detail, and give examples of how the funds are used.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.