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Essay

Fund Balance

Essay specific features

 

Issue:

Business

 

Written by:

Michael C

 

Date added:

March 19, 2012

 

Level:

University

 

Grade:

B

 

No of pages / words:

2 / 520

 

Was viewed:

7428 times

 

Rating of current essay:

 
Essay content:

Each fund is a self-balancing set of accounts used to record data generated by an identifiable government function. Governmental not for profit organizations acquire revenues from private donations, endowments, and grants. These funds can be restricted by the donor. Governmental not-for-profit organizations set up different fund accounts to show the balance of the account and to show any transactions using the monies available...
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These accounts are set up for recording assets, liabilities, fund balance, and changes to the fund balance. There are several major funds that are set up to account for the transactions in each fund. The main governmental fund is the general fund, this account is for activities of a government that are carried out primarily to provide services to citizens and that are primarily financed through taxes...
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