1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Aleks04 [339]
1 year ago
13

What is the highest level of authoritative rules for state and local government accounting?

Business
1 answer:
Serjik [45]1 year ago
7 0

GASB statement is the highest level of authorities rules for state and local government accounting.

Government Accounting Standard Board statements and interpretations are the best levels of authority beneath GASB's GAAP hierarchy as established via GASB Statement No. 76, The Hierarchy of typically accepted Accounting ideas for the country and nearby Governments, that's effective for FY 2016.

This concept statement is considered one of a series that the GASB has issued or will problem. Concepts Statements are intended to offer a conceptual framework of interrelated goals and essential principles that can be used as a foundation for organizing constant accounting and financial reporting requirements.

Required governmental fund statements are a balance sheet and an announcement of sales, costs, and modifications in fund balances. Required proprietary fund statements are an assertion of internet assets; an assertion of revenues, prices, and modifications in fund internet property; and a statement of coins flow.

Learn more about Government Accounting Standard Board here brainly.com/question/20757640

#SPJ4

You might be interested in
What is a conglomerate? a large corporation that produces and sells its goods and services throughout the world the combination
miskamm [114]

Answer:

A conglomerate is a business combination merging more than three businesses that make unrelated products.

Explanation:

A conglomerate is a group of companies with different activities. This business concept spread to Europe from the United States after World War II. The benefits were considered to increase the company's long-term profitability by spreading risk to various business areas.

However, conglomeration often led to an increase in administrative costs. Furthermore, the conglomerate's management rarely had the competence to handle a number of companies in different industries. The conglomerates that were listed on the stock exchange were regularly valued lower than the total market value of the subsidiaries, indicating that the stock market did not believe in the very idea of ​​creating such corporate groups. The risk diversification that the conglomerate was aiming for could equally well be achieved by the individual investor in his own equity portfolio. Therefore, since the 1970s, many conglomerates have split up, and most companies have instead focused on creating competitive advantages through their core business.

6 0
3 years ago
Read 2 more answers
What is not one of seven mistakes to avoid when managing​ processes?
Afina-wow [57]

Answer:

bankruptcy

Explanation:

7 0
3 years ago
Ford produces a wide variety of vehicles for individuals, businesses, manufacturers, and even schools. It also operates its own
Anna71 [15]

Answer: Ford has many production processes.

Explanation:

The production process for Ford is concerned with the transformation of its range of inputs into a wide variety of vehicles for individuals, firms, governments, schools etc etc that are wanted by the market.

The vision of Ford Production System is a flexible, disciplined and lean production system which involves a set of processes and principles, that employs groups of people capable and empowered to working together and learning for the achievement of the organizational goals.

Any production process consists of a series of links that are in a production chain. Since Ford has a very broad variety of vehicles, the company has many production processes.

3 0
3 years ago
Graciela, who is single, reported itemized deductions of $6,450 on her 2017 tax return. Her itemized deductions included $200 of
oksian1 [2.3K]

Answer:

$100

Explanation:

Since the standard deduction for 2017 was $6,350, and Graciela only reported $100 more, she needs to report only $100 of the state tax refund. State tax refunds are not considered income unless you itemize your deductions, and in case you did, like Graciela, you must only report the amount that exceeds the standard deduction.

4 0
3 years ago
2017 2016 Net sales $ 1,110,000 $ 1,116,500 Net income (loss) 62,000 50,700 Total assets 855,338 838,078 Share information Share
mixer [17]

Answer:

Earnings per share 2016 = $0.00073

Earnings per share 2017 = $0.00095

Explanation:

Earnings per share relates to a period and not for a particular date, therefore, it is computed based on the average number of shares for the period.

Net income for each year

2017 = $62,000

2016 = $50,700

Shares at the end of year

2017 = 64,507,000

2016 = 66,282,000

2015 = 73,139,000

Average shares of 2016 = \frac{(73,139,000 + 66,282,000)}{2} = 69,710,500

Average shares of 2017 = \frac{(64,507,000 + 66,282,000)}{2} = 65,394,500

Earning per share for 2016 = \frac{50,700}{69,710,500} = $0.00073

Earnings per share for 2017 = \frac{62,000}{65,394,500} = $0.00095

7 0
3 years ago
Other questions:
  • Consumer surplus
    14·1 answer
  • which florida law requires owners and operators of motor vehicles to be financially responsible for damages and or injuries they
    10·2 answers
  • Which of the following factors are typically omitted from the quantitative analysis of wages but can help explain otherwise unac
    14·2 answers
  • Intangible Assets and Goodwill: Amortization and Impairment In early 2011, Bowen Company acquired a new business unit in a merge
    12·1 answer
  • The following are the current​ month's balances for Toys​ Galore, Inc. before preparing the trial balance. Accounts Payable $ 5,
    14·1 answer
  • considered the first and lowest level of stocks. common stock 2. probably the safest investment; corporations can withstand a do
    11·1 answer
  • The amount of accounts receivable that is actually expected to be collected is known as the:a.uncollectible accounts expense. b.
    10·1 answer
  • Comfy Cozy Chairs makes and sells rockers. Each rocker requires $45 of direct materials and $37 of direct labor. Variable manufa
    6·1 answer
  • _____ refer to special temporary project structures established by a company that are isolated from the rest of the organization
    9·1 answer
  • Drifting off the pavement will cause ______. a pitch motion back tire traction loss an uneven shift in balance front tire tracti
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!