ACC 548 help A Guide to career/uophelp.com ACC 548 help A Guide to career/uophelp.com | Page 11

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A description of the purpose, types, and characteristics of
proprietary funds.
An explanation of the differences between enterprise and internal
service funds.
A list and description of the proprietary (enterprise and internal
service) funds that your entity actually uses, including the dollar
amount of each fund.
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ACC 548 Week 4 DQs
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1. How is a private purpose trust fund different from a permanent fund?
2. What typically are the main adjustments relating to capital assets and
long-term obligations required to convert the government funds
statement of revenues and expenditures to the government-wide
statement of activities?
3. How does discrete presentation differ from blending? When is each
appropriate?
4. Suppose that you are the independent auditor for a local performing
arts association (either government or not-for-profit) that recently
received a sizable endowment. The association's president has asked
whether gains, both realized and unrealized, from the appreciation of