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  2. Financial Information System for California - Wikipedia

    en.wikipedia.org/wiki/Financial_Information...

    The Financial Information System for California began in 2005 with a total of five state employees tasked with replacing one internal facing budget system for the Department of Finance. The focus of the project soon shifted to address the need to modernize the state’s entire financial management process into a single financial management system.

  3. California Board of Accountancy - Wikipedia

    en.wikipedia.org/wiki/California_Board_of...

    On January 1, 2010, a new law, AB 138 (Chapter 312 of 2009), [5] took effect in California requiring all accounting firms providing accounting and auditing services to undergo a mandatory peer review. A peer review is a study of a firm's accounting and auditing work, performed by an unaffiliated CPA following professional standards.

  4. Governmental Accounting Standards Board - Wikipedia

    en.wikipedia.org/wiki/Governmental_Accounting...

    The Governmental Accounting Standards Board (GASB) is the source of generally accepted accounting principles (GAAP) used by state and local governments in the United States. [1] As with most of the entities involved in creating GAAP in the United States, it is a private, non-governmental organization.

  5. IOU - Wikipedia

    en.wikipedia.org/wiki/IOU

    An IOU (abbreviated from the phrase "I owe you" [1] [2]) is usually an informal document acknowledging debt. An IOU differs from a promissory note in that an IOU is not a negotiable instrument and does not specify repayment terms such as the time of repayment. IOUs usually specify the debtor, the amount owed, and sometimes the creditor.

  6. Accrual accounting in the public sector - Wikipedia

    en.wikipedia.org/wiki/Accrual_accounting_in_the...

    Under cash accounting: The government's budget surplus decreases (or deficit increases) by the amount of cash used (or debt incurred) to acquire the building in the year the government takes ownership. After the year of acquisition, the only expense recorded is the annual cost to operate and maintain the building.

  7. State report: California utility prices rising 51% faster ...

    www.aol.com/news/state-report-california-utility...

    (The Center Square) - California utility prices have increased 51% more than then national average, while California rents have increased 21.6% less than national average, according to a new ...

  8. California state finances - Wikipedia

    en.wikipedia.org/wiki/California_state_finances

    California faced another budget gap for 2010, [8] with $72 billion in debt. [9] California faced a massive and still-growing debt. [10] In June 2009 Gov. Arnold Schwarzenegger said "Our wallet is empty, our bank is closed and our credit is dried up." [11] He called for massive budget cuts of $24 billion, about 1 ⁄ 4 of the state's budget. [11 ...

  9. Governmental accounting - Wikipedia

    en.wikipedia.org/wiki/Governmental_accounting

    The objectives for which government entities apply accountancy that can be organized in two main categories: - The accounting of activities for accountability purposes. In other words, the representatives of the public, and officials appointed by them, must be accountable to the public for powers and tasks delegated.

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