GOVT AND NON-PROFIT

Question 1

Monitoring

Answer 1

Monitoring - Special Revenue

Non-monitoring - Agency

Question 2

Special Assessment

Answer 2

Potentially liable - Capital Projects

Not Liable - Agency

Question 3

Expendable

Answer 3

Special Revenue - Public & Expendable
Permanent - Public & Non-Expendable
Private - Private & Expendable

Question 4

No Assigned

Answer 4

Special Revenue

Question 5

No Spendable

Answer 5

Debt Service, Capital Projects and Permanent

Question 6

No Encumbrance

Answer 6

Debt Service and Permanent

Question 7

GRASPP - Balance Sheet

Answer 7

CURRENT Assets + Deferred Outflows
=
CURRENT Liabilities + Deferred Inflow
\+
Fund Balance (NUCAR)

Question 8

GRASPP - Income Statement

Answer 8

Revenues
- Expenditures
+- Other Financing Sources/Uses
= Change in Fund Balance

Other Financing Sources (LT Debt, Interfund Transfers and Capital Lease)

Question 9

SE - Balance Sheet

Answer 9

ALL Assets + Deferred Outflows
- ALL Liabilities + Deferred Inflows
= Net Position (RUN)

Question 10

SE - Income Statement

Answer 10

Operating Revenues and Expenses
+- Non-operating Revenues and Expenses
=
Change in Net Position

INCASET

Question 11

PAPI - Balance Sheet

Answer 11

Assets (FV)
+ Liabilities
= Net Fiduciary Position (RUN)

Question 12

PAPI - Income Statement

Answer 12

Additions
- Deductions
= Change in Fiduciary Net Position

Question 13

Agency Funds

Answer 13

No I/S

Question 14

Proprietary Funds

Cash Flow Statements

Answer 14

Operating (includes interfund reimbursements)
Capital Financing (all with capital)
Non-Capital Financing (grants, subsidies, property taxes, operating transfers)
Investing (loans, equity transactions)

• Direct method only reconciled with Operating Income

Question 15

Bond Issue Costs

Answer 15

Expense / Expenditures

Question 16

Deferred Outflows / Inflows

Answer 16

• SIR (AGE- deferred)
• Derivatives for Hedging
• Service Concession
• Assets unavailable (beyond 60 days)

Question 17

Primary Focus

Answer 17

Government Funds - Financial Position
Proprietary & Fiduciary Funds - Income
Non-Profit - Net Assets

Question 18

Encumbrance at year-end

Answer 18

Assigned or Committed

Question 19

Other Financing Sources/Uses

Answer 19

Long-term Debts (sources)
Interfund transfer in (sources)
Interfund transfer out (uses)
Capital Lease (sources)
Sale of Capital assets (sources)

Question 20

Govt-wide F/S

Answer 20

Do not capitalized construction interest

Question 21

Major Funds

Answer 21

10% GRASPP or E and

5% GRASPP and E

Question 22

Reconciliation Govt wide and Fund F/S

Answer 22

B/S =  GALS BARE
I/S =  GOES BARE

Question 23

Interfund Activity

Answer 23

a. Reciprocal
- Interfund loans and interfund sales
b. Non-Reciprocal
- Interfund reimbursements and interfund transfers

Question 24

NFP Statement of Financial Position

Answer 24

Assets
+ Liabilities
= Net Assets (PUT)

Question 25

NFP Cash Flow

Answer 25

Operating (unrestricted)
Investing (non-CA)
Financing (all restricted)
-  Proceeds fro restricted contrib
-  Other Financing Activities

Cash and Cash Equivalent - Exclude donor restricted

Question 26

NFP Donated Services

Answer 26

SOME

Question 27

NFP Investment

Answer 27

1. Unrestricted - G/L unrestricted
2. Permanently Restricted
   Gains - Temporary Restricted
   Losses - Temporary Restricted (up to Gain) then Unrestricted

Question 28

NHP Derivative

Answer 28

Not permitted on hedge

Question 29

College and University

Answer 29

Tuition Fees
- Cancelled Classes
= Gross Tuition

Question 30

Health Care

Answer 30

1. Patient Services
2. Other Operating - donated materials
3. Non-Operating - unrestricted grants, donated services

Question 31

Patient Services

Answer 31

Patient Services
-  Charity Services
=  Gross Patient
-  Adjustments
=  Net Patient

Question 32

Primary Govt and Component Units

Answer 32

SELF - all
Blended - board or exclusive and not legal entity
NFP - BAS