Transcription of Accounting for Governmental Operating Activities ...
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1 Chapter 4 Chapter 4 Accounting for Governmental Accounting for Governmental Operating ActivitiesOperating Activities -------- illustrative transactions & illustrative transactions & financial StatementsFinancial Statements2 Govt lGovt lFunds ReviewFunds Review!!Spending FocusSpending Focus!!Current financial ResourcesCurrent financial Resources!!Modified AccrualModified Accrual!!Revenues & ExpendituresRevenues & Expenditures!!No Fixed AssetsNo Fixed Assets!!No Long Term (LT) DebtNo Long Term (LT) Debt3 Budgetary AccountingBudgetary Accounting !!Journal Entries:Journal Entries:Estimated RevenuesEstimated RevenuesEst. Other Financing SourceEst. Other Financing SourceAppropriationsAppropriationsEst. Other Financing UseEst. Other Financing UseFund BalanceFund Balance4 Revisions to BudgetRevisions to Budget!!Evaluate Inflows & OutflowsEvaluate Inflows & Outflows!
Accounting for Governmental Operating Activities----Illustrative Transactions & Financial Statements. 2 Govt’l Funds Review! Spending Focus! Current Financial Resources! Modified Accrual! Revenues & Expenditures! No Fixed Assets! No Long Term (LT) Debt. 3 Budgetary Accounting! Journal Entries: Estimated Revenues Est. Other Financing Source
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