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Essay

Accounting 460

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Issue:

Business

 

Written by:

Albert M

 

Date added:

April 28, 2015

 

Level:

University

 

Grade:

B

 

No of pages / words:

1 / 262

 

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5360 times

 

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Essay content:

Non-expendable or endowment-like arrangements available to support the operations or programs of the government are accounted for in a governmental fund type, newly created by GASB statement 34, called "permanent funds." 5) Permanent funds are governmental funds and they are reported in government-wide funds...
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Income from permanent funds should be assigned to specific functions if the income is restricted to those programs. Otherwise they will be reported as investment income. Fiduciary funds shouldn’t not in the government-wide statements. 15) Agency funds are the other main category of fiduciary funds...
displayed 300 characters

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