Question

Introduction about types of account related to goods

Answer 1

PROJECT ACCOUNTING
11.1 Terminology
11.1.1 Policy Terminology
The following terms are used throughout this chapter:
Entity -Wide Project Number - - a number that can be used by an agency to link a
group of projects together for reporting purposes. It will not be used on a statewide
basis, however, it can be used within an agency or between agencies in the same
department.
Inception-to-Date - - allows project tracking and control based on the start and end
date entered for the project. These dates are not constrained by the State Fiscal Year,
which allows the project to be set up for less than one year or for several years in the
future.
Non-Payable Projects - - capital outlay projects for which the Office of Facility
Planning and Control (FPC) is only partly responsible. These projects are not in the
Capital Outlay Act and payments relating to them are made by the agencies to which
the funds were appropriated. FPC is involved with the architectural and engineering
aspects of these projects. Also, FPC reviews invoices related to these projects before
the agencies pay them. While FPC does not issue payments for these projects, it
does establish ‘N’ projects for them and records the expenditure activity so it will
post to the various Project tables in AFS.
Phase Number - - identifies the source system of the project (CFMS, AGPS, or
AFS). For AFS projects, the phase may further specify the task that the budget is
reserved. The phases have been predefined on the Project Phase Table. Agencies
may request additional phases be set up if the need arises.
Project Number - - a five character alphanumeric code which is assigned by the
agency to identify the project. It is a unique code within the agency that is specific to
the agency. The five-character code is entered on documents in conjunction with a
sub-project and phase.
Sub-Project Number - - a two-character code assigned by the agency to identifypart of the project. The sub-project number is unique to the five-character project
number; however, multiple projects can have the same sub-project numbers assigned.
11.1.2 Procedure Terminology
The following are the field definitions for each project related table or document in the
1100-1170 procedures in this chapter:
11.1.2.1 Project Phase/Status Table (PRPH) 1100-1101
Field Size Description
PHASE – 1 Alphanumeric. Required. Enter a character specifying a
project phase.
DESCRIPTION 30 Alphanumeric. Required. Enter a description of the phase.
(Limited to 30 characters)
SHORT DESCR 12 Alphanumeric. Required. Enter a short description of the
phase. (Limited to 12 characters)
CONSTRUCTION
INDICATOR 1 Optional. If used, valid entries are:
‘Y’ (Yes) if this is a construction phase.
‘N’ (No) if this is not a construction phase.
11.1.2.2 Project Status Reference Table (PRST) 1110-1111
Field Size Description
STATUS CODE 1 Alphanumeric. Required. Enter a code to be used to identify
project status.

Answer 2

There are different accounts that are used to record finances in a business these include, cash accounts, bank accounts, income accounts,credit accounts and debit accounts. the cash account contains the physicaly available money, the bank account contains the money avilable in the bank, the income account contains money that has been earned by a body.