-------------------------refers to how to recognize transactions in the financial statements
Measurement focus
What are the 2 types of measurement focus
1. Current Financial resources
2. Economic Resources
What are the following
Current Financial resources
Economic Resources
types of measurement focus
What is curent financial resources
they are a measurement focus that seeks to value and report fund balances as a measure of available, spendable or appropriable resources
----------------------------------------- are a measurement focus that seeks to value and report fund balances as a measure of available, spendable or appropriable resources
Current financial resources
When using the current financial resources types of measurement only ------------------ and liabilities are included on the balance sheet
fixed assets
When using the current financial resources types of measurement only fixed assets and ------------------- are included on the balance sheet
liabilities
Under current finacial resources the --------------------------- method is used
modified accual
Under the current financial resources type of measurement focus, what is reported
1.
2. No non-current liabilites are reported
no fixed assets are reported
Under the current financial resources type of measurement focus, what is reported
1. no fixed assets are reported
2.
no non current liabilites are reported
Under the current financial resources type of measurement focus, what is reported
1.
2.
no fixed assets are reported
No non-current liabilites are reported
Under the economic resources type of measurement focus, what is reported
1. Fixed assets are reported
2. Non-current liabilites are reported
Under the economic resources type of measurement focus, what is reported
1. Fixed assets are reported
2.
Non-current liabilites are reported
Under the economic resources type of measurement focus, what is reported
1.
2. Non-current liabilites are reported
Fixed assets are reported
Under the economic resources types of measurement focus the ---------- Accual method is used
Full
The--------------------------------------refers to when revenues and expenditures or expenses are recognized in the accounts and reported in the financial statements.
Basis of Accounting
---------------------------------------of acocunting is used with the current financial resources measurement focus
modifed accrual basis
---------------------------- basis of accounting is a blend of accual and cash basis accounting concepts
Modified accrual
Modified accuarl basis of accounting is what
a blend of accual and cash basis accounting concepts