question archive DQ1) What is meant by an in-substance defeasance, and how can a government use it to lower its interest costs? How must it recognize a gain or loss on defeasance if it accounts for the debt in a proprietary fund? How do the GASB standards pertaining to in-substance defeasances differ from those of the FASB? DQ2) What is an encumbrance? How does an encumbrance affect expenses and expenditures? What is the impact of encumbrance accounting on a governmental budget? Explain
DQ1) What is meant by an in-substance defeasance, and how can a government use it to lower its interest costs? How must it recognize a gain or loss on defeasance if it accounts for the debt in a proprietary fund? How do the GASB standards pertaining to in-substance defeasances differ from those of the FASB? DQ2) What is an encumbrance? How does an encumbrance affect expenses and expenditures? What is the impact of encumbrance accounting on a governmental budget? Explain
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DQ1) What is meant by an in-substance defeasance, and how can a government use it to lower its interest costs? How must it recognize a gain or loss on defeasance if it accounts for the debt in a proprietary fund? How do the GASB standards pertaining to in-substance defeasances differ from those of the FASB?
DQ2) What is an encumbrance? How does an encumbrance affect expenses and expenditures? What is the impact of encumbrance accounting on a governmental budget? Explain.
DQ3) What are the basic principles of fund accounting? When do governmental entities recognize revenue? Why is timing important in recognizing revenue?
DQ4) What is the purpose of the capital projects fund? What is the purpose of the debt service fund? What is inter-period equity? How does inter-period equity affect capital project and debt services funds?
