PROGRAM: MSC IN ACCOUNTING AND FINANCE

Prepared by ENDRIAS EYANO

ID:number pgw/48548/013
 
Submitted to : Netsanet.B (Ass.Prof)

Assignment of Gov’t and Ngos

 INDIVIDUAL
department; accounting and finance
 WOLAITA SODO – ETHIOPIA
 Chapter three power point
GOVERNMENT WIDE STATEMENT OF ACTIVITY
The government-wide financial statements include the Statement of
Net Assets, the Statement of Activities, and the Statement of
Cash Flows. The government-wide financial statements consist of a
statement of net assets and a statement of activities and are prepared
using the economic resources measurement focus and the accrual
basis of accounting. Government-wide Financial Statements.
Statement of Activities. This statement presents the operations of an
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 agency in a format that reports the net (expense) revenue of its
individual functions in order to report the relative financial
burden of each of the state's functions on the taxpayers.
 The government-wide statements bring the financial activity
together in one place and report accrual-based economic
resources information. The government-wide statements
organize information by whether it relates to governmental
activities or business-type activities
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 Government accounting refers to the accounting system

implemented and followed by the government offices to record
the financial transactions of the government. ... Government
accounting refers to the process of recording, classifying,
summarizing and interpreting the financial transactions of the
government.
 Fiscal Accounting at the Bureau of the Fiscal Service gathers and
reports on the U.S. government's finances
 general fund
 the General Fund of the Government consists of assets and liabilities used to

finance the daily and long-term operations of the U.S. Government as a whole. It

also includes accounts used in management of the budget of the U.S. Government

 It is the primary operating fund of a governmental unit.

 Much of the usual activities of a municipality are supported by the general fund.

Examples are the purchase of supplies and meeting operating expenditures. main

operating accounts of a nonprofit entity, such as a government or government

agency
General fund used for
 As “America's Checkbook,” the General Fund of the

Government consists of assets and liabilities used to finance

the daily and long-term operations of the U.S. Government as

a whole. It also includes accounts used in management of the

budget of the U.S. Government.

General fund balance
 Most simply, fund balance is the difference between assets and
liabilities in a governmental fund. The general fund, where a
government accounts for everything not reported in another
fund. Special revenue funds, for reporting specific revenue
sources that are limited to being used for a particular purpose.
Budgetary accounts
 Budgetary accounts means those accounts necessary to reflect budgetary

operations and conditions, such as estimated revenues, appropriations, and

encumbrances.

 The financial planning process is critical to the expression of citizen

 Budgetary accounting is a management tool to assist in controlling expenditures.

 Appropriations are the authorizations granted by the Legislature to make

expenditures or incur obligations for specific programs. Appropriations are

made by specific program and fund type.

operating statement accounts
 An operating statement is used to assess a company's
performance and financial position. It is a primary financial
statement, a long side balance sheets and cash flow
statements.
 Operating statements summarize a company's revenues and
expenses for a given accounting period.
 revenue and expenses
Revenue describes income earned through the provision of a business's primary

goods or services.
 An expense is a cost incurred in the process of producing or offering a primary

business operation. Other examples of revenue expenditures include the following:

• Salaries and employee wages.
• Any overhead expense, such as salaries for the corporate office, which typically fall

under selling, general, and administrative expenses (SG&A)

• Research and development (R&D)