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Encumbrance Accounting: CPA FAR Governmental Accounting
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In this video we walk through how encumbrance accounting works for the governmental accounting portion of the FAR CPA exam.
So in this video, we’re gonna do a quick example that will walk you through how encumbrance accounting works for the government accounting section on the FAR exam.
The 2020 General Fund budget for Corona County included $100,000 budgeted for face masks for county employees on November 1st, 2020, Corona had the following balances related to the face masks budget. They had appropriations of $100,000, encumbrances of $20,000, expenditures of $70,000, and vouchers payable for $5,000.
One of the county employees has asked for more face masks for their department. So you need to review the information related to the budget above to determine if there are funds available from the budget for additional facemasks. So down here, this is the description of what you’re trying to figure out. We need to figure out the amount and if the budget is available or overspent. For the rationale on this, you think of appropriations as the amount that has been set aside for a purpose at the beginning of the budgeting process.
So appropriations is essentially, if we go back to this, it’s essentially the entire amount that was budgeted at the beginning of the budgeting process. Encumbrances is the amount from the appropriations that are currently tied up in an actual purchase. So when a purchase order has been issued, that amount will be listed as an encumbrance. So here there are currently $20,000 worth of encumbrances that are going against this appropriations amount of $100,000. Expenditures on the other hand, these are the amounts that have been filled, meaning the transaction is basically over. So there was an encumbrance and then the goods were received.
So the encumbrance was reversed back out and then it was recorded as an expenditure. So it’s the amount has actually been spent. So when a purchase, when the when the purchase order from up here has actually been filled, then the amount of the encumbrance is reversed out and that amount becomes an expenditure. And then vouchers payable is just the government term for accounts payable.
So, when an expenditure is recorded, there will be a voucher payable recorded at the same amount, which is basically just saying, this is what we still owe for these goods that we received. In the example above, having this amount listed as vouchers payable, that just means that on this date on November 1st, this is the amount of vouchers payable that is still outstanding. In other words, it’s already been included in this expenditures amount. So we wouldn’t use this to calculate what amount of the budget is still leftover.
So the calculation in this example is, you have the appropriations or the budgeted amount and we would subtract from that the expenditures. Those are the transactions that have been fulfilled. Purchase order was made, goods were received, the purchase order was filled, and it was recorded as an expenditure. So in this encumbrance amount, we’d subtract this as well because there’s currently twenty thousand of our budget tied up in outstanding purchase orders. So the purchase orders have been issued, but they haven’t been filled. So a hundred thousand minus seventy thousand minus twenty thousand leaves us with ten thousand dollars of budget available. So that is what the amount would be.
Ten thousand of available budget. Now, down here, if the expenditures. Let’s say they were ninety thousand and there were encumbrances of twenty thousand, then the budget would be overspent by ten thousand. So that’s pretty simple. You know, once you know how these work and how to figure out this kind of problem, it’s obviously very basic math at that point. It’s really just understanding what these mean and how they work against the appropriations account.
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The Purchase Requisition Process \u0026 Its Advantages Explained
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The purchase requisition process is the series of events that take place prior to creating a purchase order (PO) within a business. It’s an important procedure that helps to reduce costs, improve control, and increase efficiency during business purchasing processes.
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Plasmolysis Experiment
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To demonstrate plasmolysis and deplasmolysis
Osmosis is defined as the movement of solvent molecules from a region of lower solute concentration to a region of higher concentration across a semipermeable membrane.
Osmosis plays an important role in the interaction of cells with their external fluid surroundings.
The cell membrane functions as the semi permeable membrane through which transport of solvent molecules occur between the intra and extracellular regions.
The ability of an extracellular solution to cause the movement of solvent molecules into or out of a cell is known as the Tonicity of that solution.
A solution which has a relative solute concentration same as that found within a cell, is known as an Isotonic soution.
A solution which has a relative solute concentration lower than that found within a cell, is known as hypotonic soution.
A solution which has a relative solute concentration higher than that found within a cell, is known as hypertonic soution.
In plant cells, an intereting phenomenon takes place when they are placed in a hypertonic solution. The protoplasm begins to shrink away from the cell wall as there is a net movement of solvent from the cells to their external surrounding, a process also known as Exosmosis. This phenomenon of shrinkage of a plant cell protoplasm due to exosmosis is known as Plasmolysis. In anim al cells, it is known as Crenation.
When a plasmolysed cell is placed in a hypotonic solution, the protoplasm usually regains its original shape and turgor due to influx of fluid from the surrounding, a process also known as endosmosis. This opposite phenomenon whereby the protoplasm of a plasmolysed cell regains shape and turgidity is known as Deplasmolysis.
In this experiment, we’ll be demonstrating the phenomenon of plasmolysis and deplasmolysis in plant cells, using onion epidermal cells as our material.
For this experiment we’ll need the following:
• Onion bulb
• Concentrated sucrose solution or 10% sodium chloride solution
• Glass slides and coverslips
• Pins and tweezers
• Droppers
• Distilled water
• Compound light microscope
• Filter papers
To begin the experiment, take a onion bulb and remove a layer of the bulb
Break this layer and peel off the epidermal surface on the coloured side of the layer.
Place this epidermal peel on a glass slide containing a drop of water
Place a cover slip on the peel
Observe under microscope.
Notice the normal shape of the epidermal cells in the peel.
Focus on a section of the peel under high power of the microscope.
Now add a drop or two of concentrated sucrose solution from one edge of the coverslip and blot the slide from the opposite edge of the coverslip using a filter paper strip.
In this way, the sucrose solution gets sucked into the slide via a capillary force thus replacing the water originally present in the slide.
Observe again under the microscope.
You’ll see that as time progresses from seconds to minutes, the protoplasm within the epidermal cells begin to gradually shrink away from the cell walls.
This is called plasmolysis and occurs as a result of exosmosis of the protplasmic fluid from the cell to the exterior surrounding
Now replace the sucrose solution with distilled water by following the same process of blotting.
After a few minutes, youll find that the plasmolysed cells regain their turgidity as the shrunken protoplasm slowly of the cells begin to swell up and fill the interior of the cells.
This is called deplasmolysis and results from the process of endosmosis of the external fluid into the cells.
PlantPhysiologyExperimentsPlaylist ThomasTKtungnung
Carbon dioxide is produced during respiration Experiment
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Experiment to demonstrate that Germinating seeds release CO2 during aerobic respiration
Germinating seeds can respire both aerobically and anaerobically.
They carry out aerobic respiration in the presence of free oxygen whereas anaerobic respiration is carried out when they are deprived of oxygen.
Aerobic respiration takes place in the cell mitochondria. It requires glucose and oxygen to produce carbon dioxide, water and energy.
Aerobic respiration may thus be represented by this equation:
C6H12O6 + 6O2 6CO2 + 6H2O + ATP (Energy)
In this video, we’ll be carrying out a simple experiment to demonstrate that carbon dioxide is released by germinating seeds during aerobic respiration.
For this experiment, we’ll be needing the following:
• Seeds pre soaked in water
• Dry seeds
• 2 identical flasks with rubber corks
• Filter papers or cotton pads
• Lime water
• 2 test tubes with rubber corks
Begin the experiment by inserting a layer of filter paper in the bottom of the two flasks.
Wet the filter paper in one flask and introduce some pre soaked seeds
Leave the filter paper in the second flask dry and introduce an equal amount of dry seeds.
The flask containing the dry seeds will be our control for the experiment.
Cover both the flasks using the rubber corks and seal the edges with petroleum jelly or glycerol.
Leave the two flasks at room temperature for a couple of days.
After 23 days, open the flask containing the presoaked seeds and carefully pour the gaseous contents of the flask into a test tube containing lime water.
Cover the tube with a cork and gently shake the test tube.
You can clearly observe the lime water turning milky or cloudy white in clolour. This is due to the reaction of calcium hydroxide which is lime water with carbon dioxide to form insolube calcium carbonate. To prove that it is in deed calcium carbonate, add a few drops of dilute hydrochloric acid to the milky lime water. The white colour disappears because the hydrochloric acid reacts with calcium carbonate to form a water soluble calcium chloride.
Now take the control flask containing the dry seeds.
Pour the gaseous contents of the flask into a second test tube containing fresh lime water
Cover the tube and shake it gently
The lime water remains clear showing that carbon dioxide has not been formed in the flask because the dry seeds do not germinate and are therefore unable to carry out aerobic respiration.
From this experiment, we can conclude that germinating seeds carry out aerobic respiration in the presence of oxygen to eventually release carbon dioxide as a respiratory byproduct.
PlantPhysiologyExperimentsPlaylist ThomasTKtungnung
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