December 2019
Intermediate to advanced
640 pages
25h 45m
English
Content preview from Wiley GAAP for Governments 2019
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7PROPRIETARY FUNDS
INTRODUCTION
Proprietary funds are used to account for a government’s ongoing organizations and activities that are similar to those found in the private sector. In other words, these activities resemble commercial activities performed by governments, and the basis of accounting and measurement focus of these funds reflect this resemblance. There are two types of proprietary funds—enterprise funds and internal service funds.
This chapter describes the basic characteristics and accounting for proprietary funds, both enterprise and internal service funds. The following specific topics are addressed:
- Basis of accounting and measurement focus for proprietary funds.
- Enterprise funds: Background and uses.
- Specific accounting issues:
- Restricted assets.
- Debt.
- Contributed capital.
- Advance refundings of debt.
- Tap fees.
- Regulated industries.
- Fixed assets—Infrastructure and contributions of general fixed assets.
- Internal service funds: ...
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I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.