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Subject Topic: Government Accounting (Topic Closed Topic Closed) Post ReplyPost New Topic
  
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Tajik4CPA
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Posted: 21 Jul 2010 at 16:36 | IP Logged  

yashikaahluwali wrote:
Thanks for the explanation, but like you mentioned cash is being debited twice, is it not double counting? I mean since GW financial would ultimately reflect cash $400,000 twice. Am I talking sense?


When you do reconciliation from Funds to GW statements then those other financing sources and other financing uses will cancel each other out and bond liability shows up on GW FS


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yashikaahluwali
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Posted: 21 Jul 2010 at 17:39 | IP Logged  

Thanks Tajik4CPA.

Tajik4CPA wrote:
yashikaahluwali wrote:
Thanks for the explanation, but like you mentioned cash is being debited twice, is it not double counting? I mean since GW financial would ultimately reflect cash $400,000 twice. Am I talking sense?


When you do reconciliation from Funds to GW statements then those other financing sources and other financing uses will cancel each other out and bond liability shows up on GW FS
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