Question 1: Under pressure to balance their budgets, govern
Question 1: Under pressure to balance their budgets, governments at… Question 1:Under pressure to balance their budgets, governments at all levels have resorted to fiscal gimmicks, such as delaying the wages and salaries of government employees from the last day of the month to the first day of the following month. As a result of this change, the employees had one fewer pay period for the year.How would this sort of change affect the reported expenditures of a governmental fund under GAAP? In your opinion, should GASB address this issue? Why or why not?Question 2:Go to the Government Finance Officers Association (GFOA) website to read the article, Capital Project Monitoring and Reporting. Once you are done, please respond to the following:What would you consider to be the two most significant policies or processes to ensure that the accounting is accurate and the project is on track?Explain your rationale.Question 3:Enterprise funds are accounted for differently than governmental funds.Compare the accounting for enterprise funds with that of governmental funds, summarizing the reasons both for and against accounting for enterprise funds differently than governmental funds.Business Accounting ACC 410
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