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Governmental Accounting What are the differences between a cash flows statement prepared for a governmental electric...

Governmental Accounting

What are the differences between a cash flows statement prepared for a governmental electric utility versus one prepared for an investor-owned utility?

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Answer:

Money streams proclamation arranged for a legislative electric utility versus one arranged for a speculator possessed utility

a). The income for the legislative electric utility must be readied utilizing the immediate strategy, and can't utilize the circuitous technique. Financial specialist possessed utility can utilize the backhanded technique

b). The income proclamation for the legislative electric utility falls under GASB that must characterize exchanges into four classes specifically: money streams from working exercises; money streams from noncapital financing exercises; money streams from contributing exercises; and money streams from capital and related financing exercises.

The income proclamation for a speculator claimed utility falls under FASB that must meet all requirements for three essential of organizations in particular: working; financing and contributing

c). The premium receipts are accounted for as contributing money streams and premium installments are accounted for as either money streams from capital financing or noncapital financing. Neither of these is accounted for as working money streams, dissimilar to the FASBS 95 necessities for organizations

ekkarill92 answered 6 months ago
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