ACCT 2101 Lecture 8: Chapter 7: Accounting for Receivables - part 2

Answer the following questions:

1. Describe the five types of government entities.

2. Describe the attributes of government entities.

3. Describe fund accounting

4. Describe modified accrual accounting.

5. Describe full accrual accounting

6. Describe the financial resources measurement focus.

7. Describe the economic resources measurement focus.

7. Reconciling the GST control accounts is different for accrual based accounting and cash accounting. When reconciling the GST control accounts, with what would outstanding GST be reconciled in each case?

"Perception"

You have been immersed in the world of managerial accounting(i.e., cost accounting) for seven (7) weeks. At this point in thecourse, what is your assessment of cost/managerial accounting froma provider perspective?

Now imagine that you are the user, not the provider. Explainwhether or not your assessments have changed, and explain why orwhy not. As a user, describe how you would use two (2) of thevariances calculated to make better management decisions.