AAAE ACE Airport Finance Mod 2 2024 STUDY GUIDE
AAAE ACE Airport Finance Mod 2 questions and answers Cash Basis Accounting - correct answer records revenues when cash is received and expenses when cash is paid Accrual Basis Accounting - correct answer reporting income when it is earned and expenses when they are incurred, does not matter when cash is exchanged Modified Accrual Accounting - correct answer recognized 1) revenues when the resulting current financial resources are both measurable and available to be used and 2) expenditures when they are incurred GAAP Principles - correct answer Recognition, measurement, presentation, disclosure Operating Budget - correct answer budget for day-to-day expenses covering the span of a year Capital Budget - correct answer budget for major capital, or investment, expenditures covering up to 5-10 years, also subject to depreciation on accounting records
Written for
- Institution
- AAAE-AMERICAN ASSOCIATION of AIRPORT EXECUTIVES
- Course
- AAAE-AMERICAN ASSOCIATION of AIRPORT EXECUTIVES
Document information
- Uploaded on
- February 8, 2024
- Number of pages
- 4
- Written in
- 2023/2024
- Type
- Exam (elaborations)
- Contains
- Questions & answers
Subjects
- airport finance
- accrual basis accounting
- operating budget
-
american association of airport executives
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modified accrual accounting
Also available in package deal