Appropriation allows using funds for accounting services

Assignment Help Financial Accounting
Reference no: EM13863858

Are the following allowable expenses(please list Yes or No cleary - such as, 6), "Yes, this is allowable, because___)? Why or why not?

1) An agency decides to award a vendor $1,000,000 to perform accounting services on a one-year appropriation. The appropriation is for Fiscal year 2014. The award is made on October 2, 2014. The appropriation allows using the funds for accounting services.

2) For a no-year appropriation, could the agency start a new obligation starting on October 24, 2015? The obligation would be for goods/services that would be a use listed in the appropriation, and would be above the amount remaining on the appropriation.

3) An agency has a multi-year appropriation, from Beg. Budget Fiscal Years 2012-Budget Year 2014. The agency awarded a vendor a contractor on October 1, 2013 for an item listed in the appropriation. The vendor identified an invoice for work performed in November 2013, and requested payment on January 5, 2015. Is the payment allowable?

Reference no: EM13863858

Questions Cloud

Plan for prototyping and testing : Intellectual property acquisition (if relevant; this is both IP you need to actually acquire from another company, as well as any patents, trademarks, copyrights and/or trade secrets you develop and file yourself). Plan for prototyping and testing..
Evaluate the financial statements and the financial position : Evaluate the financial statements and the financial position of health care institutions.
How do the endings of star food reflect : How do the endings of "Star Food," "Everything That Rises Must Converge," and "The Bet" reflect what might be considered incomplete story arcs?
Some of the new policies designed to protect environment : What are some of the new policies designed to protect the environment in your community? How do they affect your life?  What problem are they addressing?  Are there any changes that you would like see made to these policies?
Appropriation allows using funds for accounting services : Are the following allowable expenses(please list Yes or No cleary - such as, 6), "Yes, this is allowable, because___)? Why or why not? An agency decides to award a vendor $1,000,000 to perform accounting services on a one-year appropriation. The appr..
How significantly were global stock markets affected : Evaluate each financial crisis in terms of its impact on the international financial markets. How significantly were global stock markets affected? How did the major currencies react during each crisis
Discuss how various stakeholders-internal and external-use : Discuss how various stakeholders-internal and external-use information contained in the financial statements for decision making
Applications of the law within the health care system : Describe the sources of law in America, the relative legal procedure, and the related court system and examine the various applications of the law within the health care system.
Show the effect of the given transactions on the assets : Show the effect of the following transactions on the Assets, liabilities and capital through accounting equation: Rs. a) started business with cash 1,20,000 b) Rent Received 10,000.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd