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The normal balance is the regular balance of a line item and is either a debit or credit as determined by the account type selected. All numbers must be entered as positive numbers in GFRS, unless the balance of that line is abnormal, then the amount is entered as a negative number. The normal balance attribute is used to determine the appropriate stored value of manually entered amounts. Significant Entities report the line items on their financial statements based on what is most material and useful to them. These line items may not match line items in the Closing Package for several reasons.

For example, the Closing Package line items may not apply to the entity, the amounts could be immaterial at the entity level, or the entity may find it useful to include more detail than the Closing Package reports. Disposition of revenue to Other Entities: The collecting entity accounts for the disposition of revenue as part of its custodial activity. The receiving entity recognizes the revenue as non-exchange or exchange revenue depending on its nature, according to the applicable revenue standards. The custodial revenue is reported by the collecting agency on the Statement of Custodial Activity or on the Custodial Activity Note.

However, for exchange revenue collected for others with related cost incurred, agencies should follow the guidance from SFFAS No. Exchange revenue reduces the net cost of operations incurred by the entity in producing outputs, regardless of whether the entity keeps the exchange revenue for its own use or transfers it to another operating entity or the General Fund.

Therefore, all exchange revenue related to the cost of operations must be deducted from gross cost to determine the net cost of operations for the entity. Significant Entities that report a Statement or Note on Custodial Activity in their comparative, audited consolidated, department-level financial statements reclassify exchange revenue without associated costs virtually no cost , and non-exchange revenue from the Statement or Note on Custodial Activity to the Closing Package line items on the Statement of Operations and Changes in Net Position. The agency must ensure the amounts reported with its own trading partner AID eliminate appropriately.

Funds from dedicated collections are financed by specifically identified revenues, often supplemented by other financing sources, which remain available over time. At the governmentwide level, the U. Government Balance Sheet shows separately the portion of the net position attributable to funds from dedicated collections which can be presented as consolidated or combined preferably combined and labeled accordingly. The standard further requires the disclosure of condensed information on assets, liabilities, and net cost for all funds from dedicated collections.

The disclosure may be presented as combined or consolidated preferably combined amount, and the presentation must be labeled accordingly. If an agency decides to present the Balance Sheet net position as consolidated, it may disclose a crosswalk from the consolidated to combined net position amounts in the Funds from Dedicated Collection Note. The crosswalk will be concurrence to process a journal voucher at the governmentwide level, converting the Balance Sheet net position from consolidated to combined. This will crosswalk the funds from dedicated collections amounts and activity to the applicable Closing Package line items.

Additional note disclosure information on Funds from Dedicated Collections is required in the Closing Package, Appendix 3, and Note 22, to be completed by both Significant and Other Entities with activity from funds from dedicated collections. Criminal debt primarily consists of fines and restitution that result from a wide range of criminal activities, including domestic and international terrorism, drug trafficking, firearms activities, and white-collar fraud.

When an individual is sentenced in a federal criminal case, the judge may order the defendant to pay certain financial obligations, which may include a case assessment, fine, restitution, penalty, bail bond forfeiture, or interest. Attorneys EOUSA is responsible for establishing policies and procedures for the collection of criminal monetary penalties. Attorneys are responsible for the enforcement of judgments, fines, penalties, and forfeitures imposed in their respective districts.

There are 93 U. Attorneys publish the Annual Statistical Report that contains statistical tables displaying both national and district caseload data, covering the many priorities of the U. Attorneys in both criminal prosecution and civil litigation. The CDCS is the system of record for debts being collected by Justice on behalf of others, including federal agencies. The system is used by the U. The funds collected in federal restitution are disbursed back to the appropriate federal agencies, while funds collected in bond forfeitures, fines and assessments are deposited into the Crime Victims Fund.

Funds collected from penalties and certain costs are deposited in the General Fund of the U. Courts assist Justice with the receipt and distribution of financial obligations ordered in a criminal judgment and serve as a conduit between the defendant and Justice. The majority of payments made to satisfy criminal restitution are received at the Clerk of Court offices.

The Clerk of Court offices have the payee details from the criminal judgment to ensure proper disbursement of payments. Non-exchange revenue should be recognized when a specifically identifiable, legally enforceable claim to resources arises, to the extent that collection is probable more likely than not and the amount is reasonably estimable SFFAS No. For accounts receivable resulting from non-exchange transactions, recognition is based on the completion of the assessment process that establishes an identifiable, legally enforceable claim to cash or other assets SFFAS No.

Federal accounting standards require that an allowance for uncollectible amounts be established to reduce the gross amount of receivables to its net realizable value SFFAS No. Public Access to Court Electronic Records PACER is an electronic public access service that allows registered users to obtain case and docket information online from federal appellate, district, and bankruptcy courts. The Judgment in a Criminal Case form issued by a court is a public record filed with the Clerk of Courts.

The Judgment in a Criminal Case form includes a schedule for Criminal Monetary Penalties , which details if any assessments, fines, or restitution have been established in the final judgment in a criminal case, and lists the payees and amount of restitution ordered for each payee. This schedule also indicates if the fine or restitution are subject to interest.

The Judgment in a Criminal Case form also includes the Schedule of Payments , which lists the specific details as to when payments are to commence and the frequency of when payments are due. When a federal agency is listed as a payee in the Judgment in a Criminal Case form, the legally enforceable claim to cash or other assets is established. As such, Significant Entities cannot enter information related to the Statements of Social Insurance and the Statement of Changes in Social Insurance Amounts into a separate financial statement module.

Non-federal individuals and entities must have an ownership interest in the cash or other assets held by the government under provision of loan, regulation, or other fiduciary arrangement.

Agencies should account for this fiduciary activity, which includes the collection of cash or other assets and their distribution to the non-federal owners or their beneficiaries, in accordance with SFFAS No. In accordance with the standard, there is relatively similar government activity that is specifically excluded from the SFFAS No. In addition, the government must disclose that the fiduciary assets are not assets of the government and are, therefore, not recognized on the U.

However, at the governmentwide level, the U. Government Balance Sheet recognizes a liability for fiduciary cash held in Fund Balance with Treasury and a liability for fiduciary investments in U. Agencies must make sure to report the TASs that are fiduciary to Fiscal Service to ensure the data crosswalks properly.

Treasury GAS securities purchased using a non-fiduciary fund is normally classified as intragovernmental. S Government General Fund. They are not synonymous and agencies must distinguish one from the other when designating an appropriate trading partner code. General Fund Receipt Accounts GFRAs are credited with all funds from collections that are not identified by law for another account for a specific purpose. Therefore, in order to prevent Intragovernmental differences with the General Fund, agencies must notify the General Fund of any applicable non-CARS reported data attributed to their agency by the eighth business day following the end of a quarter.

The form as well as instructions can be found on the General Fund website. The information submitted on the form will include, but is not limited to, a general description of the type of transactional data being sent, the USSGLs involved, and the applicable amounts by USSGL. The attribute is limited to Reciprocal Category Converting agencies must perform additional steps before reclassifying their financial statement line items to the Closing Package line items. They must convert their latest set of audited financial statements to a month set of financial statements using the FASAB standards and a September 30 ending date.

Converting agencies will reclassify their audited financial statement line items to their reclassified lines with a manual adjustment in GTAS. For the Significant Entities with a year-end other than September 30, a crosswalk with a month set of FY financial statements should be provided to the Fiscal Service, as support to the Closing Package submission. In addition, these agencies must provide an updated month set of the FY financial statements crosswalk after the audit is completed to show changes, if any, that may impact financial reporting at the governmentwide level.

Agencies must highlight any variances in the subsequent crosswalk and must provide reasons for the variances. The parent agency transferor of the appropriation must report all activity of the child in its financial statements, whether material to the child agency recipient of the transfer or not, unless one of the two exceptions detailed below applies. The parent agency is the trading partner entity for activity involving these TAS. For more detail on how to report trading partner information, please refer to Appendix 5a and 5b.

In these cases, the receiving agency child is responsible for reporting all proprietary activity in its financial statements and GFRS, and is the trading partner entity.

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Please refer to Appendix 5a and 5b for details on reporting trading partner information. GTAS requires the parent agency and the child agency to come to an agreement on which agency will report the TAS in the bulk file submission.

These categories assist in the elimination of federal activity at the governmentwide level to prepare the FR. Additionally, these reciprocal categories facilitate the reconciliation of activities between federal entities. General Fund activities must report via GTAS ATB to be crosswalked to a reclassified financial statement line with a Reciprocal Category 30—48 designation for identifying General Fund activity at the governmentwide level. See Appendix 7 for a complete list of reciprocal categories and the financial statements to which they relate. For Significant Entities, an audit opinion is required for the reclassified financial statement for the current FY, based on the reclassified financial statement lines populated from GTAS data and entity-entered data in GFRS.

The IG provides the audit opinion and its text of the audit opinion, regardless of whether the IG or an independent public accountant IPA conducted the audit. Significant Entities with a year-end other than September 30 are subject to all requirements of this TFM chapter. However, they are limited to audit assurance on material line items and note disclosures to which the Significant Entities contribute. For additional guidance, refer to the audit of the reclassified financial statements section of OMB Bulletin No.

Significant Entities should thoroughly review information provided as Other FR Data in the Closing Package, which is not subject to audit coverage, to ensure consistency with the applicable data. Treasury will not approve manual adjustments in GTAS for rounding. A , Section V. Agencies should attach in Excel format a comprehensive SUM that includes uncorrected misstatements from the general purpose financial statement audit, and uncorrected misstatements from the Closing Package financial statement audit. The Closing Package MRL may be combined with the representations required for the audit of the general purpose financial statements in one MRL rather than two separate letters.

Please refer to If there are no uncorrected misstatements, a representation to this effect is required in the MRL. Agencies are required to provide the adjusting entries to correct the misstatements. A summary of uncorrected misstatements and adjusting entries must be submitted in Excel format and should contain the following:.

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Please refer to the example below for reporting the adjusting entries for the summary of uncorrected misstatements to Fiscal Service. Significant Entity IGs must submit an interim and final Legal Representation Letter prepared by the entity General Counsel summarizing and evaluating legal actions against the entity.

Management Schedules must be in Excel format. Please refer to the following example of a Management Summary Schedule. Significant Entities must recognize a contingent liability on their financial statements or must disclose it in the financial statement notes if it meets the contingent liability criteria as defined in SFFAS No. This term should only be used to categorize cases for which the Legal Counsel is unable to express an opinion.

If a note disclosure is not provided, the agency should provide justification as to why a disclosure is not necessary. The Export-Import Bank of the U. The aforementioned entities are required to submit a final Legal Representation Letter and the accompanying Management Schedule. The final Legal Representation Letter will be all inclusive of existing, pending, or threatened litigation and unasserted claims as of September Agencies are required to report subsequent events that resulted in a change in the likelihood of loss or the amount of loss, or both, from the effective date of the final Legal Representation Letter through a date to be determined.

A, revised, on the OMB website. For accounting purposes, Treaties and other international agreements may be understood as falling into three broad categories:. Treaties and other international agreements are negotiated against the backdrop of the Antideficiency Act ADA , which prohibits the authorization or creation of an expenditure or obligation in excess of the amount available unless authorized by law. In many cases, such treaties and other international agreements establish frameworks that govern cooperative activities with other countries, but leave to the discretion of the parties whether to engage in any such activities.

In other cases, the agreements may contemplate specific cooperative activities, but obligations to engage in them are made subject to the availability of funds, such that failure to engage in the activities would not involve a breach of the agreement or result in the U. Cooperative activities relevant to these treaties and other international agreements often involve actions that agencies undertake as part of their regular operations, funded by their regular budgets. A small number of treaties and other international agreements fall in the second category, involving specific obligations by the U.

Examples of such agreements include:.

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The last category often encompasses those treaties or other international agreements in which the U. Dispute settlement mechanisms do not necessarily result in the U. When a claim is filed against the U. This is carried out, captured, and reported in the annual legal letter processes. Agencies negotiating and concluding treaties and other international agreements on behalf of the U. Per the C Procedure, a request for authorization to negotiate and conclude a treaty or other international agreement takes the form of an action memorandum addressed to the Secretary of State, or other principal to whom such authority has been delegated.

The action memorandum may request the authority to negotiate, authority to conclude, or authority to negotiate and conclude a treaty or other international agreement. In addition, the action memorandum must indicate whether a proposed treaty or other international agreement embodies a commitment to furnish funds, goods, services, or other measurable future financial obligations beyond or in addition to those authorized in an approved budget; and if so, what arrangements are being planned or carried out by the agency concerning consultation with OMB for such commitment.

State will not authorize such commitments without confirmation that the relevant budget approved by the President requests or provides funds adequate to fulfill the proposed commitment, or that the President has made a determination to seek the required funds. All provisions of the C Procedure apply whether a proposed treaty or other international agreement is to be concluded in the name of the U. Government, or in the name of a particular agency of the U. In accordance with auditing standards, agency external financial statement auditors must develop test procedures to assess the adequacy of internal controls surrounding the establishment of a liability or note disclosure, as well as to confirm the accuracy of amounts presented.

In addition, agency auditors or attorneys must conduct a review of potential risk for contingent liabilities arising from treaties and other international agreements that have not yet resulted in litigation. If at any point throughout the duration of the treaty or other international agreement, litigation should arise from a triggering event SFFAS No.

Government agency the agreement was concluded in the name of, would follow federal guidance and internal procedures for reporting any relevant information in its legal letters. Intragovernmental transactions result from business activities conducted between two federal government entities, called trading partners. Accounting differences occur in governmentwide financial reporting when trading partners record differing amounts for transactions that should eliminate or net to zero.

Trading partners must reconcile and resolve these differences on a routine basis with their trading partners.

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The Intragovernmental Transactions Guide Appendix 10 contains the business rules and processes to properly record, report, and reconcile intragovernmental transactions, including the processes for dispute resolution. Therefore, payments made to or collections received from the Federal Reserve System would be reported in the financial statements of the federal government and its component reporting entities refer to Appendix 5b for list of Disclosure Entities, SFFAS No.

The intragovernmental transactions reconciliation and resolution requirements are stated in OMB Circular No. A, revised see the OMB website.

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Agencies can refer to the USSGL website to see accounting scenarios for selected federal intragovernmental activities. For non-fiduciary transactions, OMB requires reporting agencies to reconcile and confirm intragovernmental activity as well as balances quarterly for the following reciprocal groupings:. Agencies must use three-digit trading partner AID for all intragovernmental transactions.

Agencies are expected to work with their respective trading partners to reconcile and resolve intragovernmental differences. Appendix 10 discusses the reconciliation and resolution process which includes the root cause, Corrective Action Plan CAP , and dispute resolution processes.

These dates are set by Fiscal Service. Detailed explanations should include but are not limited to the following:. If an agency is not able to provide the detailed information listed above, Fiscal Service may follow up for a response. Fiscal Service will use their own discretion when analyzing explanations and follow up from clarification, if needed. With agencies explaining and certifying material differences, the assurance for Fiscal Service that agencies comply during the IGT reconciliation and resolution process is established using three functions:. Recurring differences should be limited to those situations that have been confirmed by the Fiscal Service through the dispute resolution process.

An explanation of Part I reporting should be based on each identified difference in terms of the following categories:. The total of these amounts must be identified and explained. If the agency is in error, then provide the adjustment amount as well as the corrective action journal entry, etc. The total of these amounts must be identified. Explain whether an adjustment should be made.

The method of accounting must be identified and explained as well as attempt to provide the dollar amount of the difference caused by the differing methodologies. The method of accrual must be identified and explained as well as attempt to provide the dollar amount of the difference caused by the differing methodologies. It also indicates the agency has reconciled this amount with its trading partner and knows why the difference, if any, exists. Agencies should provide amounts and a detailed explanation to support the selection of Agency Verified. The total of unidentified reporting amounts must be identified and explained as to why they are unidentified.

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Unidentified also can include instances where differences are due to existing guidance that is currently under review in order to ensure elimination at the governmentwide level between trading partners when applied correctly for example, judgment fund and FICA transactions. Fiscal Service has implemented scorecards and metrics to track reporting differences governmentwide by agency. Scorecards will be updated quarterly and disseminated to Significant Entities and Other Entities as determined by Fiscal Service.

The purpose of the metrics is to monitor progress on resolving or explaining material intragovernmental differences. Significant Entities and Other Entities should reconcile their intragovernmental balances and resolve intragovernmental differences with all available information before submitting their Closing Package data and GTAS ATB, respectively. Additionally, Significant Entities and their auditors should review the 5 th quarter Scorecard to determine if a prior-year journal voucher was processed.

In preparation for the year-end submission, agencies should validate and reconcile their data monthly to resolve intragovernmental differences in certain reciprocal categories, prior to their data submissions in GTAS. They are listed below. Significant Entities must comply with the following instructions using the comparative, audited consolidated and department-level financial statements:. Details can be found by visiting the GTAS website. All agencies must submit all changes to the reclassified financial statements through GTAS.