Scribd Logo
Upload

Welcome to Scribd!

  • Revenues and Other Receipts

    Uploaded by

    Wawex Davis
    67 views4 pages
    This document discusses revenues and receipts for government and non-profit organizations. It outlines the sources of revenue as either exchange transactions like sales of goods and services, or non-exchange transactions like taxes, fines, and donations. All revenues must be deposited in the General Fund unless a specific law allows otherwise, and receipts must be properly acknowledged through pre-numbered official receipts, which can include checks. The learning objectives are to state the sources of revenue for a government entity and explain the recognition and measurement of revenue.

    Original Description:

    Revenues and Other Receipts

    Copyright

    © © All Rights Reserved

    Available Formats

    PPTX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    This document discusses revenues and receipts for government and non-profit organizations. It outlines the sources of revenue as either exchange transactions like sales of goods and services, or non-exchange transactions like taxes, fines, and donations. All revenues must be deposited in the General Fund unless a specific law allows otherwise, and receipts must be properly acknowledged through pre-numbered official receipts, which can include checks. The learning objectives are to state the sources of revenue for a government entity and explain the recognition and measurement of revenue.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pptx, pdf, or txt
    67 views4 pages

    Revenues and Other Receipts

    Uploaded by

    Wawex Davis
    This document discusses revenues and receipts for government and non-profit organizations. It outlines the sources of revenue as either exchange transactions like sales of goods and services, or non-exchange transactions like taxes, fines, and donations. All revenues must be deposited in the General Fund unless a specific law allows otherwise, and receipts must be properly acknowledged through pre-numbered official receipts, which can include checks. The learning objectives are to state the sources of revenue for a government entity and explain the recognition and measurement of revenue.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pptx, pdf, or txt
    of 4

    Government Accounting

    &
    Accounting for non-profit
    by: ZEUS organizations
    VERNON B. MILLAN
    Chapter 4
    Revenues and Other Receipts
     
    Learning Objectives
    1.State the sources of revenue of a
    government entity.
    2.State the recognition and measurement
    of revenue.

    GOVT ACCTG & ACCTG FOR NPOs by: Z.B.Millan


    Fundamental Principles for Revenue  
    • All revenues shall be remitted to the BTr and
    included in the General Fund, unless
    another law specifically allows otherwise.
    Recording in other types of funds (e.g.,
    Special Fund) shall be made only when
    authorized by law.
    • Receipts shall be properly acknowledged
    through pre-numbered ORs. Receipts can be
    in the form of checks.

    GOVT ACCTG & ACCTG FOR NPOs by: Z.B.Millan


    Sources of Revenue  
    Revenues may arise from exchange and non-
    exchange transactions.
    • Exchange transaction - examples: sale of
    goods and rendering of services.
    • Non-exchange transactions - examples: tax
    revenue, fines and penalties and donations.

    GOVT ACCTG & ACCTG FOR NPOs by: Z.B.Millan

    You might also like