Do you have revolving funds or miscellaneous receipts? During this two day course, one and a half days are devoted to discussing revolving fund transactions with the remainder of the class spent discussing miscellaneous receipts. The structure of a revolving fund and its various formats, a comparison of accounting for direct and reimbursable funds to revolving funds and the budgetary and proprietary accounting entries for a revolving fund are presented. The definition, accounting entries, closing entries and reporting process are presented for miscellaneous receipts.
This course also gives you the opportunity to practice preparing entries and financial statements for these funds through case studies and exercises.
Major topics include:
The characteristics of revolving funds and miscellaneous receipts
How to record a start-up appropriation for revolving funds
How to record anticipated and actual work orders
How to record advances, billings and collections
How to record receivables, bad debts and collections for
general fund receipts
Who should attend:
Accountants and auditors responsible for business-type revolving funds and/or miscellaneous receipts accounts.
Standard General Ledger: Revolving Funds