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Write a 350-word summary in which you:Describe the
purposes of the Government Accounting Standards Board, and how the
evolution of these standards has improved financial reporting for
decision making. Discuss whether and how the creation of PFR’s has helped to simplify government accountability in financial reporting.Answer the following with very short answers:A. Describe
how operating revenues and expenses related to governmental activities
are classified and reported in the government-wide financial statements. B. Distinguish, in governmental funds, between Revenues and Other
Financing Sources and between Expenditures and Other Financing Uses. C. Explain how revenues and expenditures are classified in the General
Fund and other governmental funds. D. Explain how budgetary accounting contributes to achieving budgetary
control over revenues and expenditures, including such aspects as:
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Get Help Now!Recording the annual budget.
Accounting for revenues.
Accounting for encumbrances and expenditures.
Accounting for allotments.
Reconciling GAAP and budgetary amounts. E. Describe governmental accounting systems. F. Explain the classification of revenues and expenditures of a public
school system.G. Describe the nature and characteristics of general capital assets.
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