Describe what you understand by the term fund accounting, Financial Accounting

Assignment Help:

Question:

(a) ‘Public accounting is often called fund accounting'.

Describe what you understand by the term ‘fund accounting'.

(b) "What's the difference between national defence and pizza?", asked your public finance professor.

Required:

(i) Distinguish between a public good and a private good.

(ii) Describe your understanding of the ‘market failure' phenomenon.

(iii) What is the free-rider problem?

(c) Public accounting is said to "mirror" the budget. Explain.

(d) The role of the Public Expenditure Management System (PEMS) is to allocate and use resources responsively, efficiently and effectively'.

Briefly describe the above statement with particular emphasis on the highlighted terms. Your may illustrate your answer with examples.


Related Discussions:- Describe what you understand by the term fund accounting

Practice Test, I need help with a practice test so I can study well for my ...

I need help with a practice test so I can study well for my midterm soon this week.

Illustrate management of commercial and political risk, Q. Illustrate Manag...

Q. Illustrate Management of commercial and political risk? Commercial risk comprises both the physical risk that goods in transit may be lost stolen or destroyed as well as the

Determine the types of hedging , Go to your assigned corporation's website ...

Go to your assigned corporation's website and access their latest annual report. Answer the following questions regarding their derivative and foreign currency transactions. 1.

Format of the balance sheet, Format of the Balance Sheet It shows the f...

Format of the Balance Sheet It shows the financial position of the company as at the end of a given financial period. The standard requires that assets and liabilities should b

Compute a confidence interval for minnesota, For this problem we will be wo...

For this problem we will be working with the Ericksen data set for describing the percentage of the population not counted in the US Census from 1980. In this data set we have diff

Consolidated income statement and consolidated statement , CONSOLIDATED INC...

CONSOLIDATED INCOME STATEMENT AND CONSOLIDATED STATEMENT OF CHANGES IN EQUITY     The consolidated income statement follows similar principles as those of the consolidated balanc

How to prepare annual financial statements, "Government departments should ...

"Government departments should take audit report seriously by preparing annual financial statement on time".... Based on the above statement, suggest ways on how government depa

Analyse the net worth, Igor and Angela were married in 2005, separated in 2...

Igor and Angela were married in 2005, separated in 2011, and divorced recently. At the time of marriage, each had some investments and personal assets. They both worked during the

benefit-cost ratio, The city of Fredericton operates automobile parking fa...

The city of Fredericton operates automobile parking facilities and is evaluating a proposal to erect and operate a structure for parking in the city's downtown area. 2 designs for

What is the effect on g''s capital, Partners F and G receive an interest al...

Partners F and G receive an interest allowance of $10,000 and $15,000, respectively, and divide the remaining profits and losses in a 3:1 ratio. If the company sustained a net loss

Write Your Message!

Captcha
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