Solution-Does the statement present a variance column

Does the statement present a variance column

Reference no: EM132629057

Question 1: Does the statement present a variance column (not required by GAAP)? If so, are variances referred to as "favorable" and "unfavorable" or "over" and "under" budget?

Question 2: Is the budgetary basis used for the Actual column GAAP (modified accrual)? If not, what is the budgetary basis?

Question 3: If the budgetary basis is different from GAAP, a reconciliation must be presented. For a statement, the reconciliation may be presented on the face of the statement, on the next page, or in the notes. For a RSI schedule, the reconciliation may be presented on the face of the schedule or on the next page (it must not be placed in the notes). Where does this government present the reconciliation, if required?

Reference no: EM132629057

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Does the statement present a variance column

Reference no: EM132629057

Reference no: EM132629057

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