Examples of an enterprise fund

Assignment Help Accounting Basics

Reference no: EM13767546

1) Class, what are some examples of an enterprise fund in your city or county government? Can you find an enterprise fund in their CAFR? If you do not have a CAFR for your city or county, you can download the CAFR referenced in our text book. Please attach the CAFR you are using to answer this question and reference the page number. (I live in NYC)

2) The guidance from GASB for when to use an enterprise fund is very clear. Not so with an internal service fund. What is this guidance for enterprise funds and internal service funds? Why might the guidance be different for each type of proprietary fund?

3) An enterprise fund can be for a service that is essential, such as water or sewer, or for something that is non essential, such as recreational activities. Class, which type of enterprise fund do you believe should be more profitable, and why?

4) Class should budgetary controls be applied to internal service funds? Why or why not?

Reference no: EM13767546

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