Why may the matching concept be less relevant for governments and not-for-prots than for businesses?

Question:

Why may the “matching concept” be less relevant for governments and not-for-proﬁts than for businesses?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Government and Not for Profit Accounting Concepts and Practices

ISBN: 978-1118155974

6th edition

Authors: Michael H. Granof, Saleha B. Khumawala

See More Books

Question Posted: Aug 13, 2014 11:39 AM

See More Questions

Why is the concept of equivalent units not relevant for job costing?
Why may exible budgets be more important to a governments business-type activities than to its governmental activities?
The accounting profession has employed the matching concept to determine what to report in the income statement and to determine how to measure items reported in the income statement. This concept...
5.8 LAB: Structuring data using scale() and MinMaxScaler() The hmeq_small dataset contains information on 5960 home equity loans, including 7 features on the characteristics of the loan. Load the...
Geotechnical engineers use water-level "manometer" surveys to assess the levelness of newly constructed concrete slabs. Elevations are typically measured at eight points on the slab; of interest is...
Abalone Abalones are edible sea snails that include over 100 species. A researcher is working with a model that uses the number of rings in an abalones shell to predict its age. He finds an...
Explain what makes an effective marketing plan.
Patterson Distributors, Inc., purchases various electronic components from a variety of manufacturers and then distributes the products to end users. In the past, both domestic and foreign...
The amount initially capitalized by the lessee for a right-of-use asset is the sum of the future value of the periodic lease payments, plus the future value of expected payments for residual value....
What other countries in addition to the united states utilize the restorative justice model? What are the social and ethical implications of utilizing restorative justice practices on a global level?
What is meant by inter-period equity, and what is its consequence for nancial reporting?
What is the signicance for nancial reporting of the many restrictions that are placed upon a governments resources?
Find solutions to the differential equations in Problems subject to the given initial condition. dy dx = -0.14y, y = 5.6 when x = 0
What is the logical ending point of a sequential game that starts at position (2,8) with player 1 moving first? Show your work. Player 1 Strategy B Strategy A Strategy A Player 2 Strategy B (3,4)...
Problem A-6 Income and Retained Earnings Statements Peanut Corporation is a private corporation using ASPE. At December 31, 2017, an analysis of the accounts and discussions with company officials...
8.5 Area Between Curves (dy) Calculus-Calculator Allowed Mastery Check #2 Name: Date: Period: For 1-2, find the area of the region bounded by the following curves. Show the integral set up with...
Your company has a travel policy that reimburses employees for the "ordinary and necessary" costs of business travel. Employees often mix a business trip with pleasure by either extending the time at...
Simulation A: 1 Diameter 600 mm 2 Focal Length 1800 mm 3 F/D Ratio 3 4 Eyepieces 30 m 5 Barlow? N 6 Celestial Sights M42 - M31 - M51 Simulation B: 1 Diameter 150 mm 2 Focal Length 1800 mm 3 F/D Ratio...
What is the relationship between the profit and loss account and the balance sheet?
In each of the following independent cases, document the system using whatever technique(s) your instructor specifies. a. Dreambox Creations (www.dreamboxcreations.com/) in Diamond Bar, California,...
An entity denominated a sale of goods in a currency other than its functional currency. The sale resulted in a receivable fixed in terms of the amount of foreign currency to be received. The exchange...
What are investment pools? Why might a government maintain an investment pool? On what basis are the assets measured and reported?
In what two basic financial statements should a government report its fiduciary funds? On what basis of accounting should they be prepared?
What are permanent funds used to account for? In light of the requirement that governmental funds can recognize revenues only when they are measurable and available, how can a permanent fund ever...
Justice Corporation Comparative Balance Sheet December 31, 2025 and 2024 2025 2024 Assets Current Assets: $ Cash and Cash Equivalents 2,254 $ 1,876 Justice Corporation reported the following...
The Fields Company has two manufacturing departments forming and painting. The company uses the FIFO method of process costing at the beginning of the month the forming department has 33.000 units in...
A comparative balance sheet for Lomax Company containing data for the last two years is as follows: Lomax Company Comparative Balance Sheet This Year Last Year $ 96,000 $ 70,000 640,000 672,500...

Why may the matching concept be less relevant for governments and not-for-prots than for businesses?

Question:

Step by Step Answer:

The matching concept may be less relevant for governm...View the full answer

Government and Not for Profit Accounting Concepts and Practices

Students also viewed these Accounting questions