1. Government Accounting: What’s the difference between Governmental Funds, Proprietary Funds, Fiduciary Funds? (Special Revenue Fund belongs to which fund category?)
2. Government Accounting: the difference between Modified Accrual and Accrual Basis
3. Government Accounting: Inter-Fund Transaction
4. Government Accounting: The Journal Entry of Encumbrance Accounting
5. Not-for-Profit Accounting: The difference between Unrestricted, Temporary Restricted, Permanently Restricted.
(Note: Governmental, Not-for-Profit Accounting is crucial for your FAR Exam. According to the FAR outline released by AICPA, Governmental & Not-for-Profit Accounting will occupy 14-21% in your score. But this part usually studied in Advanced Accounting Class, and many professor will skip these chapter. So governmental & Not-for-profit may be the part you need to catch up. And if you read the chapter, it’s easier to gain the points.)
6. The difference between IFRS & GAAP. There may be a lot of questions focus on this point. So prepared a compare list of the different of this two accounting principle will be really helpful!
