INTRODUCTION TO FUND ACCOUNTING
LEARNING OBJECTIVES
Distinguish between a nonbusiness organization and a profit-oriented enterprise.
Explain the role of fund accounting.
Distinguish among the concepts of revenues, expenses, and expenditures as used in profit-oriented entities and as used for expendable fund entities.
Understand the classification of revenues and other resource inflows for fund accounting.
Understand the classification of expenditures and other resource outflows for fund accounting.
Describe the critical events in the use of financial resources of an expendable fund.
Explain how capital expenditures are recorded in an expendable fund.
Understand the role of a general fund. ...
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