INTERNALLY GENERATED Definition

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INTERNALLY GENERATED refers to the creation of either tangible or intangible results within the confines of one entity, e.g. internally generated funds are those funds that are realized through the efforts or operations of the entity itself, i.e. the funds were not borrowed or realized through other external means.

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PUBLIC FUNDS is money funded in government securities or through the levy of taxes from a governmental entity.

ACCRUAL is the recognition of revenue when earned or expenses when incurred regardless of when cash is received or disbursed.

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