What Is An Unrestricted Fund Balance? Unrestricted fund balance is the portion of that total fund balance that is not restricted in these ways. These designations are governed by rules adopted by the Governmental Accounting Standards Board (GASB). What is unrestricted fund? Unrestricted funds are grants or donations nonprofits get to spend any way they
What Is The Primary Reason Government Entities Use Funds For Financial Reporting Why Do Governments Use The Modified Accrual Method Of Accounting? The objective of governmental fund financial reporting is to report on the government’s fiscal accountability. Thus, governmental fund financial reporting helps users evaluate the short run objective of whether financial resources were raised
Which Of The Following Financial Statements Are Prepared For Governmental Funds? Explanation: The governmental fund financial statements include the Balance Sheet, and the Statement of Revenues, Expenditures, and Changes in Fund Balances and are prepared on the current financial resources measurement focus and modified accrual basis of accounting. On what should the governmental fund financial