government accounting - fiduciary funds
Post on 29-May-2015
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DESCRIPTION
This is a broad overview of government accounting for purposes of preparing for the FAR section of the CPA Exam.
TRANSCRIPT
- 1. Fiduciary Funds
2. Basis of AccountingModified Accrual 3. TypesAgencyPensionInvestmentPrivate Purpose Trust Funds 4. Agency FundThe Government Holds Assets For Another Party 5. Agency FundAssets = Liabilities 6. Agency FundNo RevenueNo ExpendituresNo Fund Balance 7. Private Purpose TrustSimilar to Permanent FundBUT...Benefits Third Parties 8. Private Purpose Trust...Benefits Small GroupsNot the Public or the Government
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