WebThe difference between an entity's assets plus deferred outflows of resources and its liabilities plus deferred inflows of resources represents its net position. Net position has the following three components: net investment in capital assets; restricted net position; and unrestricted net position. Exhibit 5 defines each component. Top WebSep 21, 2011 · 9/21/2011. The latest Exposure Draft issued by the Governmental Accounting Standards Board (GASB) identifies deferred outflows of resources and deferred inflows of resources. Such items are defined in Concepts Statement No. 4,“Elements of Financial Statements,” but have not been specifically acknowledged as …
Classification of Deferred Outflows/Inflows of Resources
Web3 GASB Statement No. 63, paragraph 12 –“Deferred outflows of resources and deferred inflows of resources that are required to be reported in a governmental fund balance sheet should be presented in a format that displays assets plus deferred outflows of resources, equals liabilities plus deferred inflows of resources, plus fund balance.” WebThe portion of debt or deferred inflows of resources attributable to the unspent amount of related debt proceeds or deferred inflows of resources at fiscal year-end is included in the same net position component (restricted or unrestricted) as the unspent amount — not in the calculation of net position, net investment in capital assets. mario montoya arizona
Deferred Expenses (Definition, Examples) How to Account?
WebAdvanced Topics in Governmental Accounting, Rutgers Business School, Dean Michael Mead WebAn inflow of resources 2. A deferred inflow of resources 3. A deferred outflow of resources 4. An outflow of resources a. The consumption of net assets by the government that applies to a future reporting period. b. The consumption of net assets by the government in the current reporting period (e.g., expenses, expenditures, and other uses … WebUnder GASB, an inflow of resources is an acquisition of net assets by the government that is applicable to the reporting period. Inflow of resources means the same thing as … mario montoto montonero