Administrative Rules of Montana
Department 10 - EDUCATION
Chapter 10.10 - SPECIAL ACCOUNTING PRACTICES
Subchapter 10.10.4 - GAAP
Rule 10.10.404 - BASIS OF ACCOUNTING
Universal Citation: MT Admin Rules 10.10.404
Current through Register Vol. 18, September 20, 2024
(1) All school districts will use the generally accepted basis of accounting for each fund as set forth by the Governmental Accounting Standards Board to measure the district's financial position and results of financial operations. School districts shall be permitted to maintain the accounting system on the cash basis during the year. However, all adjusting entries required to convert the accounting system to the modified accrual or full accrual basis of accounting must be recorded prior to the year-end closing of the accounts.
20-9-102, 20-9-201, MCA; IMP, 20-9-201, MCA;
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