Allowable lodging cost is generally based on the least expensive available rate for single occupancy in moderately-priced, safe accommodations given reasonable personal convenience. Lodging expenses are reimbursed based on actual cost. USNH uses the federal lodging per diem rate only as a standard measurement for reasonableness of accommodation costs. The biggest exception to the Fly America Act is the Open Skies Agreement. On October 6, 2010 the Unites States and European Union “Open Skies” Air Transport Agreement was published by the U.S. General Services Administration providing full explanation of the multilateral agreement in place so that qualifying travelers, whose travel is supported by federal funds, may travel on European Union airlines as well as U.S. flag air carriers.
The most common types of depreciation methods include straight-line, double declining balance, units of production, and sum of years digits. We reserve the right, in our sole and absolute discretion, to update or change any portion of the Terms of Service at any time.
Promote consistency and uniformity in the treatment of financial transactions. Document financial transaction procedures applicable to all campuses of the University System.
For a full treatment of expenditure recognition concepts consult one of the many fine textbooks on governmental accounting. One of the conveniences of the petty cash fund is that payments from the fund require no journal entries at the https://business-accounting.net/ time of payment. Thus, using a petty cash fund avoids the need for making many entries for small amounts. Only when the fund is reimbursed, or when the end of the accounting period arrives, does the firm make an entry in the journal.
Shells Recommended Cash And Share Offer For Bg Group Plc: Publication Of A Second Supplementary Prospectus
The non-Federal entity may comment on any information the OMB-designated integrity and performance system contains about the non-Federal entity for future consideration by Federal awarding agencies. The non-Federal entity may submit comments to the awardee integrity and performance portal accessible through SAM (currently . The Federal agency or pass-through entity must provide to the non-Federal entity a notice of termination.
If your travel was originally booked on a U.S. carrier and the air carrier involuntarily re-routed you to a non-U.S. Air carrier, document this situation and the exceptional circumstances, your travel will be supported by federal funds. Permitted exceptions must be documented in advance with the Fly America Act Exception Form. The Fly America Act mandates the use of U.S. flag carriers when traveling on funds provided by the federal government unless permitted exceptions exist. U.S. flag carriers are airlines owned by an American company.
Rent expense of $5,000 cash for July has been paid and recorded directly to rent expense. Adjusting entry for annual depreciation expense for equipment. Adjusting entry for services received from a supplier, but not yet paid. Reconstruct the adjusting entry that must have been recorded for each account.
Royal Dutch Shell Plc Fourth Quarter 2017 Euro And Gbp Equivalent Dividend Payments
Prepare a multiple-step income statement for the first six months ending June 30, 2017. Calculate total cost of ending inventory at December 31, 2020. Calculate ending inventory in units, cost per unit, and total cost. Calculating a weighted average cost per unit at the time of sale. The cost of goods sold and ending inventory can be estimated as follows.
If it is necessary to replenish cash funds while advances remain outstanding, the total advance should be charged against the appropriate Banner account. Make a copy of the PCV and submit the original with the Petty Cash Replenishment Request. When the employee returns with the receipts, submit the copy of the PCV attached to a new PCV indicating the amount of cash returned by the employee in brackets. When preparing the INV to replenish the fund, be sure to credit the original FOAPAL charged if there is cash returned by the employee. Each change fund is the responsibility of the head of the department or activity receiving the fund.
For example, temporarily increasing cash reserves by paying off outstanding AP accounts at the latest authorized date gives the company more cash on hand for a longer period of time. By paying outstanding invoices as close to their due date as possible, you can improve the company’s overall cash flow. Fixed assets add financial value to a company. Examples of fixed assets are land, buildings and equipment. Companies may use accounts payable to purchase assets.
Category 2: Information Technology Records
Billings should be calculated for users that are not charged cost-based rates. Obtain approval of the billing rate from the campus CFO.
The PCard Managers also receive these notices and use them to keep track of supporting documentation. A breakdown of individual charges is required when more than one item is included on a single receipt. If a transaction is posted in a prior year the Campus Finance Office or UNH Business Service Center should correct it by initiating a JV document with the JCST rule code, in the current year.
Records management officers must be certain before assigning the retention period of AC to agency master files and application data that the files do not fall under records series listed elsewhere. Records management plans and similar records that establish the policies and procedures under which records and information are managed in an agency. Worksheets or working papers used to capture records inventory information, including location tracking and to document existence and requirements of a records series. Any document that initiates, rescinds, or amends a regulation, policy, or procedure that governs the programs, services, or projects of an agency.
Original receipts are required for all meal expenses, regardless of amount, if this option is chosen. If a group of colleagues splits a bill and receipts are not readily available, the traveler should document the cost of their individual portion of the bill as well as the circumstances. A traveler may be reimbursed for meals and incidental expenses (M&IE) based on the federal M&IE per diem rate in effect for their destination on the date of travel. On the day the traveler returns home (e.g., last day of travel), the traveler is entitled to per diem based on their location the night before. 1The City Pair Program is a federal program offering fares considerably lower than comparable commercial fares, saving the federal government billions of dollars annually.
Certain individuals that are not employees of USNH may periodically incur USNH business-related travel expenses. These individuals are subject to the same travel guidelines as USNH employees. Typical non-employees who travel on USNH business include job applicants, guest speakers, students , members of USNH Boards of Trustees, volunteers, and paid consultants. After making a purchase on a P-Card, employees must complete the P-Card Expense Form on the USNH Finance Hub and compile receipts to demonstrate the business purpose of any transactions. Once completed, employees should email their form and receipts to the FOC. Employees are required to secure any necessary approvals prior to submission.
Unless restricted by Federal law or regulation, the auditee must make report copies available for public inspection. Auditees and auditors must ensure that their respective parts of the reporting package do not include protected personally identifiable information. In some cases, a program-specific audit guide will be available to provide specific guidance to the auditor with respect to internal controls, compliance requirements, suggested audit procedures, and audit reporting requirements.
If there are any outstanding Fees owed by you at the date of termination of the Service, you will receive one final invoice via email. Once that invoice has been paid in full, you will not be charged again. You may cancel your Account and terminate the Terms of Service at any time by contacting Shopify Support and then following the specific instructions indicated to you in Shopify’s response. The term of these Terms of Service will begin on the date of your completed registration for use of a Service and continue until terminated by us or by you, as provided below (the “Term”). The United Nations Convention on Contracts for the International Sale of Goods will not apply to these Terms of Service and is hereby expressly excluded. We welcome customer feedback but are under no obligation to ensure that ideas and suggestions regarding our Services or the services of third parties remain confidential and we can use the feedback in any way we want. Beta Services may be offered from time to time.
Category 5: Support Services Records
Signature cards or similar records establishing authority of an agency employee to initiate or authorize financial transactions on behalf of an agency. A records retention schedule (i.e. form SLR 105) that identifies the records that are created and maintained by an agency, provides the minimum timeframes the records must be retained, and includes instructions for sooner purchased office supplies on account. the transaction would be recorded as: their disposition. This series may include working files and documentation of certification and approval by the Texas State Library and Archives Commission. Plans and records relating to the process of planning new or redefined programs, services, or projects of an agency that are neither included in nor directly related to other records series in this schedule.
- The fair value of the asset acquired becomes the cost of the new asset.
- Investors might ask why such high levels of dividends are being paid given this situation.
- Cost groupings should be established considering the general guides provided in subsection c of this section.
- However, unallowable costs must be included in the direct costs if they represent activities to which indirect costs are properly allocable.
- A purchase order is the official and binding document issued to the vendor authorizing the expenditure of USNH funds for goods and/or services.
- That said, public organizations do encounter a few typical transactions that account for many of their expenses.
- While YVMDC billed for services ten days after a clinic visit, no payments were received in the month of service.
Examples of liability accounts are reviewed below. • Merchandise inventory are items to be sold in the future. L03 – Prepare a trial balance and explain its use. Items are not to be recorded, leave the row blank. Bank approved the loan and deposited $20,000 into Olivier Bondar’s bank account.
The individual authorizing the award of meals to an employee is responsible for communicating the information to the USNH Disbursement Services Manager. This information must include the value of meals being provided, substantiation of why the benefit is being provided, and an explanation if this benefit should not be considered taxable wages. Gifts – including those for birthdays, weddings, showers and other personal events – are never allowable expenditures of USNH funds, regardless of the source of funds.
Royal Dutch Shell Plc Updates On Company Development And Recommended Combination With Bg Group Plc
Penalties imposed as a result of canceling a ticket or fees assessed for reissuing a non-refundable ticket may be reimbursed to the traveler if extenuating circumstances are documented in writing and approved by Campus CFO or designee. If a trip is cancelled for reasons beyond the control of the traveler (e.g., conference cancelled, etc.), USNH will pay for costs expended to date.