Fund Accounting

Fund accounting is an accounting system emphasizing accountability rather than profitability, used by non-profit organizations and governments. In this system, a fund is a self-balancing set of accounts, segregated for specific purposes in accordance with laws and regulations or special restrictions and limitations.

The label, fund accounting, has also been applied to investment accounting, portfolio accounting or securities accounting – all synonyms describing the process of accounting for a portfolio of investments such as securities, commodities and/or real estate held in an investment fund such as a mutual fund or hedge fund. Investment accounting, however, is a different system, unrelated to government and nonprofit fund accounting.

Read more about Fund Accounting:  Overview, State and Local Government Funds, Federal Government Funds, Nonprofit Organizations, Fund Accounting Fiscal Cycle (fictitious Example)

Other articles related to "fund, accounting, fund accounting":

Dan Rostenkowski - Major Legislation Enacted During Chairmanship
... Specifically, the 1983 Act secured the financial solvency of the Social Security Trust Fund by providing a dependable stream of revenues to the Trust Fund and by rationalizing the ... mergers and acquisitions (ii) repealed the use of the “completed contract method of accounting” by large defense contractors (iii) limited the use ... fully repealed the completed contract method of accounting for long-term contracts of defense contractors, and • extended a variety of expiring tax provisions including the R D ...
Fund Accounting Fiscal Cycle (fictitious Example) - Closing Entries
... difference was recorded as a credit to the fund balance Ledger Account Debit Credit 6 Revenues $36,000,000 Estimated revenues $35,000,000 Fund balance $1,000,000 The city spent $31 million of its $34 million ... credit of $3 million was applied to the fund balance for the unspent amount Ledger Account Debit Credit 7 Appropriations $34,000,000 Expenditures $31,000 ... The balance remaining in the general fund at that time is considered unexpended ...
Convertible Bond - Uses For Issuers
... there is an attraction in trying to catch the lowest point in the cycle to fund with fixed rate debt, or swap variable rate bank borrowings for fixed rate convertible borrowing ... of the Association of British Insurers (ABI) and the National Association of Pension Fund Managers (NAPF), the IPCs will advise their members not to object to non pre-emptive issues which add no more than ... (such as Finland) convertibles of various structures may be treated as equity by the local accounting profession ...

Famous quotes containing the words accounting and/or fund:

    I, who am king of the matter I treat, and who owe an accounting for it to no one, do not for all that believe myself in all I write. I often hazard sallies of my mind which I mistrust.
    Michel de Montaigne (1533–1592)

    I am advised that there is an unexpended balance of about $45,000 of the fund appropriated for the relief of the sufferers by flood upon the Mississippi River and its tributaries, and I recommend that authority be given to use this fund to meet the most urgent necessities of the poorer people in Oklahoma.
    Benjamin Harrison (1833–1901)