week 2 discussionsÂ
- What is an encumbrance? How does an encumbrance affect expenses and expenditures? What is the impact of encumbrance accounting on a governmental budget? Explain.
- What are the basic principles of fund accounting? When do governmental entities recognize revenue? Why is timing important in recognizing revenue?
- Summarize one of the electronic readings. How does the article relate to this weekâ€™s readings? What new information did the article contain? If the article is dated, have there been any further developments in the area?