Accounting Homework
Waqas Ahmed2–14 Examine the CAFR. Utilizing the CAFR obtained for Exercise/Problem 1–16,
examine the financial statements included in the financial section and answer the
following questions.
1. Government-wide Statements. What are the titles of the two government-wide
statements? Are total assets larger for governmental activities or business-type
activities? Which function or program has the highest net cost? What kinds of
general revenues are available to cover the net cost of governmental activities?
Were business-type activities “profitable”? That is, is the excess of revenues over
expenses positive?
2. Governmental Funds. Does the report state the basis of accounting used for the
General Fund? What types of assets and liabilities are included on the
governmental funds balance sheet? Is this reporting consistent with the basis of
accounting being followed?
3. Identify which of the major funds, if applicable, are special revenue funds, debt
service funds, capital projects funds, and permanent funds. Are you able to
determine which funds are considered nonmajor? (Hint: look for supplementary
information.) What fund balance categories are being used?
4. Proprietary Funds. List the names of the proprietary fund types included in the
financial statements. Do the financial statements provide evidence that all
proprietary funds use accrual accounting?
5. Fiduciary Funds. List the names of the fiduciary funds included in the fund
financial statements. Identify whether each of these is an agency fund, investment
trust fund, pension (and other employee benefit) trust fund, or private-purpose
trust fund. Do the financial statements provide evidence as to what basis of
accounting these funds use?
6. Notes to the Financial Statements. Read the notes to the financial statements, so
that you can refer to them as needed in subsequent chapters. What significant
accounting policies are discussed in the first note? With regard to revenue
recognition, how do the notes define the term available for paying current period
obligations?
- 7 years ago
- 15
- At least 150 words Managing Your Time "I have a full-time job and a family to care for. It's hard to find the time for schoolwork!" That is a cry we frequently hear from our students. And it's true. This week, for example, you have to complete at least o
- Question 6
- ITM 517 Module 3 SLP
- Skip
- My final class work for women study
- apa format without plagarism with 3 peer references
- 200 words
- Mgmt640 quiz
- Business Ethic Paper!!!
- 875 words