Cpfo accounting - Study guides, Class notes & Summaries

CPFO Final Accounting Exam Part 4 What is the minimum required for presentation of external financial statements in order to conform with GAAP? - Correct Answer-Only the basic financial statements What makes up the RSI information in the ACFR - Correct Answer-MD&A & Other RSI What is included in the mandatory reporting? - Correct Answer-MD&A Basic financial statements Other RSI What is included in the basic financial statements? - Correct Answer-Government-wide Funds - Governmental, Prop...

CPFO GOVERNMENTAL ACCOUNTING, AUDITING AND FINANCIAL REPORTING 2023 EXAMCPFO GOVERNMENTAL ACCOUNTING, AUDITING AND FINANCIAL REPORTING 2023 EXAMV

CPFO Final Accounting Exam Five components of Fund Balance - Correct Answer-Nonspendable Restricted Committed Assigned Unassigned Six essential characteristics of accounting data for inclusion in the GPEFR? - Correct Answer-Understandable to someone with a reasonable understanding of government and public finance activities & of the fundamentals of governmental financial reporting Reliable - not precise because estimates are acceptable Relevant - Should make a difference in how users a...

CPFO Exam on the following Governmental Accounting, Auditing, and Financial Reporting How should a government classify a pass-through capital grant ultimately intended for use by some other government in the government-wide statement of activities? A. Program revenues - capital grants and contributions B. Program revenues - operating grants and contributions C. General revenues - grants D. Either A or B - Correct Answer-B - Pass through grant to finance capital acquisition by a subrecipie...

What is the minimum required for presentation of external financial statements in order to conform with GAAP? - Correct Answer-Only the basic financial statements What makes up the RSI information in the ACFR - Correct Answer-MD&A & Other RSI What is included in the mandatory reporting? - Correct Answer-MD&A Basic financial statements Other RSI What is included in the basic financial statements? - Correct Answer-Government-wide Funds - Governmental, Proprietary, Fiduciary Notes to t...