Fund Balance
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Title: Fund Balance

Essay Details:

Subject: Business
Author: James C
Date: August 31, 2012
Level: University
Grade: A
Length: 2 / 520

Essay text:

Each fund is a self-balancing set of accounts used to record data generated by an identifiable government function. Governmental not for profit organizations acquire revenues from private donations, endowments, and grants. These funds can be restricted by the donor. Governmental not-for-profit organizations set up different fund accounts to show the balance of the account and to show any transactions using the monies available. A fund is an accounting entity with a self-balancing set of accounts. These accounts are set up for recording assets, liabilities, fund balance, and changes to the fund balance...

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