Examlex
Buddy was hired to play drums for a rock group scheduled to tour the Midwest.Part way through the tour,Buddy was tragically killed in a plane crash.The tour had to be discontinued until a new drummer could be found.The band lost money on the tour.Is Buddy's estate or agent responsible for the loss to the band?
Enterprise Fund
A fund established by a government to account for operations financed by user charges, often used for utilities and public services.
Journal Entry
A recording of a transaction in an accounting journal that notes the debits and credits affecting the accounts involved.
GASB Statement No. 87
A statement issued by the Governmental Accounting Standards Board establishing guidelines for reporting lease transactions in governmental financial statements.
Financing Leases
Long-term lease agreements where the lessee assumes many of the economic risks and rewards of ownership.
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