How to understand GOV?

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  • #203218
    Anonymous
    Inactive

    Folks,

    I am still having a hell of time getting GOV in my head.

    I understand the basic concepts and presentation between Gov-wide, Gov, Pro, and Fid Fund, Encum and Budgetary, but for the life of me, I can’t seem to apply in MCQ. I normally get 40 to 50% on educated guess, and I have done over 300 MCQs, but it is not sinking into my head. Please help !!!!

    Does anyone have some understanding or hint at logically understanding or applying to Gov Accounting?

    Any advise is greatly appreciated.

    Dlu

Viewing 7 replies - 1 through 7 (of 7 total)
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  • #783714
    Anonymous
    Inactive

    youtube videos and the free ninja blitz sample i think is on GOV stuff.

    have you read the book chapter on it?

    theres different funds wich do diff things due to their diff objectives. not many journal entries (just encumbrances and budgetary opening/closing journal entries.)

    know how modified accrual is diff from regular accrual (basically the 60 day rule, no long term liabilities, no cap assets/depr)

    then at the end the govt fund statements (just the general and internal service NOT proprietary and fiduciary funds) get rolled up into govt-WIDE statements. dont overthink iton these MCQ,usually with GOVT i find my first gut feeling answer is the one thats right

    #783715
    Anonymous
    Inactive

    Edit: proprietary/enterprise funds DO GET Rolled up into govt-wide financials i believe.

    #783716
    nib
    Participant

    hello DLU,

    Someone from forum suggested about allen mursau lectures from u tube .I hv already gone thru it to understand J/E .Try it to see if it works for u.

    #783717
    Anonymous
    Inactive

    THANKS guys, I will try to look up both.

    Dlu

    #783718
    Nessie
    Participant

    I rented a Gov’t/NFP textbook from Amazon. Best $30 I have ever spent. FYI, you wont learn gov’t accounting doing MCQs. It’s actually a waste of time unless you thoroughly study the concepts first.

    AUD - 80
    BEC - 84
    FAR - 80
    REG - 88
    Using Becker Self-Study, Final Review and NINJA MCQs
    Sat for BEC Dec 6th, 2016 !!!! 84!!!!!

    REG Aug 20/15: 88
    AUD: Feb 29/16: 80
    FAR: Jun 10/16: 80
    BEC?

    Becker self-study, Becker Final Review & NINJA MCQS

    #783719
    Anonymous
    Inactive

    Nessie,

    Can you provide the book details? This is my 2nd attempt at FAR, and wanted to make sure I cover GOV. I understand NFP ok, but GOV just kills me.

    Thanks.

    Dlu

    #783720
    Nessie
    Participant

    J Reck, Accounting for Govt / NFP

    AUD - 80
    BEC - 84
    FAR - 80
    REG - 88
    Using Becker Self-Study, Final Review and NINJA MCQs
    Sat for BEC Dec 6th, 2016 !!!! 84!!!!!

    REG Aug 20/15: 88
    AUD: Feb 29/16: 80
    FAR: Jun 10/16: 80
    BEC?

    Becker self-study, Becker Final Review & NINJA MCQS

Viewing 7 replies - 1 through 7 (of 7 total)
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