tailieunhanh - ACCOUNTING FOR REVENUE AND OTHER FINANCING SOURCES AND CONCEPTS FOR RECONCILING BUDGETARY AND FINANCIAL ACCOUNTING

The last two explanatory variables are control variables, while the remaining variables are the corporate governance variables that we discussed in Section VA. As discussed in Section II, the signs of most of these variables are empirical issues, so we use the observed signs to interpret our results. The top section of Table 7 shows estimates of four variants of equation (6) for the full sample. The first two columns show estimates of models in which we include the proportion of independent directors on the board (PID) and the presence of an independent director with financial expertise (IDFE), together with other governance and control variables. The third and. | FASAB ACCOUNTING FOR REVENUE AND OTHER FINANCING SOURCES AND CONCEPTS FOR RECONCILING BUDGETARY AND FINANCIAL ACCOUNTING Statement of Recommended Accounting Standards Number 7 April 1996 APPLICABILITY MATERIALITY AND TERMINOLOGY These standards apply to general purpose financial reports of . Government reporting entities. These standards need not be applied to immaterial items unless otherwise noted. Statement of Federal Financial Accounting Concepts No. 2 SFFAC No. 2 Entity and Display lists criteria for defining Government reporting entities. Paragraph 78 of Entity and Display notes that some of a reporting entity s components may be required by law or policy to issue financial statements in accordance with accounting standards other than those recommended by the FASAB and issued by the OMB and the GAO . accounting standards issued by the Financial Accounting Standards Board or by a regulatory agency. Those components should continue to issue the required reports. The reporting entities of which the components are a part however need to be sensitive to differences that may arise because of different accounting standards. If these differences are material the standards recommended by the FASAB and issued by the OMB and the GAO should be applied. The components would need to provide any additional disclosures or different recognition and measurement required by the accounting standards issued by the OMB and the GAO that are not required by other standards. Disclosure in this document indicates providing information in notes or narrative regarded as an integral part of the basic financial statements. Supplementary indicates providing information that is regarded as required supplementary information as that term is used in accounting and auditing standards. The limited auditing procedures for this information are defined in auditing standards. Other accompanying information refers to unaudited information that accompanies the audited financial statements. It .