...ACC 410 Assignment 1 Financial Statement / Audit Report Review Follow Below Link to Download Tutorial https://homeworklance.com/downloads/acc-410-assignment-1-financial-statement-audit-report-review/ For More Information Visit Our Website ( https://homeworklance.com/ ) Email us At: Support@homeworklance.com or lancehomework@gmail.com Assignment 1: Financial Statement / Audit Report Review Due Week 4 and worth 240 points Select one (1) local government in your state or area and review the financial statements and audit report for the county or municipality. The financial statements of the government you selected should have at least three (3) funds. Refer to the continuing problem homework for Weeks 1 through 3 for this assignment. Write a three to five (3-5) page paper in which you: 1.Compare and contrast the comprehensive annual financial report (CAFR) of the selected local government entity with the city of Austin report from Week 1 homework. In your comparison, include: a.Publication method of the CAFR b.Audit and budget information in the CAFR c.The type of audit report issued d.Existence or non-existence of an internal audit function within the government entity 2.Prepare the analysis for the selected local government entity, including information on the introduction, financial section, and statistical section prepared in the city of Austin’s CAFR from chapter 2. 3.Analyze the methods used by the selected local government entity in comparing...
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...Chapter 15: Understanding Accounting and Financial Statements Introduction The purpose of this chapter is to identify some of the concepts of Understanding Accounting and Financial Statements in the business world. Learning objectives 1. Explain the functions of accounting, and identify the three basic activities involving accounting. 2. Describe he roles played by public, management, government, and not-for-profit accountants. 3. Identify the foundations of the accounting system, including GAAP and the role of the Financial Accounting Standards Board (FASB). 4. Outline the steps in the accounting cycle, and define double-entry bookkeeping and the accounting equation. 5. Explain the functions and major components of the four principal financial statements: the balance sheet, the income statement, the statement of owner’s equity, and the statement of cash flows. 6. Discuss how financial ratios are used to analyze a company’s financial strengths and weaknesses. 7. Describe the role of budges in a business. 8. Outline accounting issues facing global business and the move towards one set of worldwide accounting rules. 1. Explain the functions of accounting, and identify the three basic activities involving accounting. Accounting measure, interpret, and communicate financial information to parties inside and outside the firm to support improved decision making. Accountants gather, record, and interpret financial information to management....
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...Chapter 3 1. Capital budgets focus on plans for the acquisition and construction of fixed assets. 2. The accounting cycle for most governments is two to three years, consistent with the terms of elected officials. 3. Most budgets are prepared on a cash or modified cash basis. 4. Neither the GASB nor the FASB sets standards for budgetary accounting. 5. State and local governments must prepare their GAAP budgetary comparisons on the modified accrual basis of accounting. 6. When budgets are integrated into a government’s accounting system, estimated revenues are debited. 7. Encumbrances and expenditures both reduce total fund balances of state and local governments. 8. Not-for-profit budgets focus first on revenues and secondarily on expenditures. 9. State and local governments’ budget-to-actual comparisons present both original and final budget amounts. 10. Cash-basis budgets help governments focus on interperiod equity. 11. Reserve for encumbrances accounts should be closed at year-end. 12. Capital budgets concentrate on long-lived assets Chapter 12 1. FASB Statement No. 117 directs that revenues and expenses be reported in a statement of financial position. 2. In the statement of activities, FASB Statement No. 117 requires revenues to be reported as increases in one of the three categories of net assets, depending on donor-imposed restrictions; however, all expenses should be reported as decreases in unrestricted net assets...
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...CHAPTER 1: INTRODUCTION TO ACCOUNTING AND FINANCIAL REPORTING FOR GOVERNMENTAL AND NOT-FOR-PROFIT ENTITIES OUTLINE |Number |Topic |Type/Task |Status | | | | |(re: 15/e) | |Questions: | | | | |1-1 |Unique characteristics of governments and NFPs that create demand for |Identify/Explain |New | | |accountability | | | |1-2 |Distinguishing between general purpose and special purpose governments|Identify |New | |1-3 |Standards-setting bodies |Contrast |Same | |1-4 |Determining which standard-setting body sets standards for a |Identify/Explain |New | | |nongovernmental NFP | | ...
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...CHAPTER 1 DECISION MAKING AND THE ROLE OF ACCOUNTING TEXT REFERENCE: Hoggett, J.R., Edwards, L., & Medlin, J., Accounting in Australia, Fifth Edition, Chapter 1. OBJECTIVES: When you have studied this chapter, you should be able to: 1. understand the nature of decisions and the decision-making process. 2. appreciate the wide range of economic decisions made in the marketplace. 3. explain the nature of accounting and its main functions. 4. identify the potential users of accounting information. 5. use information to make simple economic decisions. 6. understand the role of accounting information in the decision-making process. 7. understand the differences between accounting for management and accounting for external users. 8. understand how the accounting profession is organised in Australia. 9. identify the different areas of the economy in which accountants work. 10. understand the importance of ethics in business and accounting and how to recognise and handle ethical dilemmas as part of the decision-making process. 1 Chapter 1 STUDY TIPS FOR CHAPTER 1 1. This is an important chapter because it lays the foundation for all topics that will follow. 2. Make sure that you understand each new term as it is introduced. 3. Pay particular attention to the significance of accounting information for decisionmaking processes. 4. Identify the types of activities that are carried out...
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...ACC460( Government and Non-Profit Accounting )Complete Class Click This Link to Get The Tutorial: http://www.myhomeworkspot.com/ACC455-Corporate-Taxation-Complete-Class-002.htm Week 1 Individual Governmental Accounting Standards Board (GASB) and Financial Accounting Standards Board (FASB) Analysis Paper Prepare a 350- to 700-word paper comparing and contrasting GASB and FASB accounting. Explain the objectives of the two standards boards and how they are similar and different. Describe how the modified accrual basis of accounting differs from full accrual accounting. Format your paper consistent with APA guidelines. Discussion Questions DQ 1 Log into http://www.charitynavigator.org/. Choose a good charity and a bad charity and explain why you feel they should labeled good or bad. DQ 2 What is fund accounting? How does it compare to proprietary accounting? Why is fund accounting necessary? What are the major fund types? DQ 3 What are some examples of government and not-for-profit organizations? How do businesses measure success? How do government organizations measure success? DQ 4 What is the purpose of CAFR? What are the components of CAFR? Why is the Federal Government not subject to GASB 34? How do government-wide financial statements add information not available in fund financial statements? Week 2 Individual Ch. 1, 2, & 3 Textbook Exercises Resources: Ch. 1, 2, & 3 of Government and Not-for-Profit Accounting Prepare written...
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...anaCHAPTER 1 DECISION MAKING AND THE ROLE OF ACCOUNTING TEXT REFERENCE: Hoggett, J.R., Edwards, L., & Medlin, J., Accounting in Australia, Fifth Edition, Chapter 1. OBJECTIVES: When you have studied this chapter, you should be able to: 1. understand the nature of decisions and the decision-making process. 2. appreciate the wide range of economic decisions made in the marketplace. 3. explain the nature of accounting and its main functions. 4. identify the potential users of accounting information. 5. use information to make simple economic decisions. 6. understand the role of accounting information in the decision-making process. 7. understand the differences between accounting for management and accounting for external users. 8. understand how the accounting profession is organised in Australia. 9. identify the different areas of the economy in which accountants work. 10. understand the importance of ethics in business and accounting and how to recognise and handle ethical dilemmas as part of the decision-making process. 1 Chapter 1 STUDY TIPS FOR CHAPTER 1 1. This is an important chapter because it lays the foundation for all topics that will follow. 2. Make sure that you understand each new term as it is introduced. 3. Pay particular attention to the significance of accounting information for decisionmaking processes. 4. Identify the types of activities that are carried...
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...Lisandra Rodriguez Acc.410 HW#1 Chapter 1 Q1-5 Funds are separate fiscal and accounting entities and include both cash and non cash resources. There are two types of fund accounting entities expendable and nonexpendable funds. Like that on business accounting is expenses – the cost of assets consumed during the period. In contrast, the cost of measurement focus of expendable fund accounting is expenditures – the amount of financial resources expended during the period for. Q1-6 The GASB is responsible for establishing accounting and financial reporting standards for activities and transactions of state and local governments including government non-profit organizations. Meanwhile FASB is for all other organizations including nongovernment nonprofit organizations. Then we have AICPA that evaluates the pronouncements of the various G&NP accounting standards bodies in depth in the course of preparing a series audit guidelines. Q1-7 Because significant revenues from sales of services are not available to finance governmental type activities, the government must raise financial resources from other sources such as Taxation and intergovernmental revenues. These are the two primary examples of these revenues. Q1-8 Because the day to day accounting and interim reporting by G&NP organizations is often based on cash receipts, disbursements, and balances or assuring compliance with the organization’s budget. But their annual financial statements must meet uniform national...
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...11 Issues Chapter of Reporting, Disclosure and Financial Analysis Questions for Review and Discussion 1. The two main adjustment are likely to be the addition of capital assets and longterm obligations. 2. The main adjustments are likely to be: the addition of depreciation expense and gains or losses from the sale of capital assets and the deletion of amounts spent to acquire capital assets and the proceeds from the sale of capital assets the deletion of long-term debt proceeds and amounts spent to repay long-term debts and the addition of any gain or loss on the retirement of debt and the amortization of any debt premium or discount. 3. The key criterion is financial accountability the primary government either appoints a voting majority of the units governing body or a majority of the units governing body is composed of primary government officials and the primary government is able to impose its will upon the potential component unit or there is the potential for the organization to provide specific financial benefits to, or impose specific financial burdens on, the primary government. 4. Discrete presentation is when one or more component units are reported in separate columns, in addition to those pertaining to the primary government. Blending is when the component units transactions and balances are reported as if they were part of the primary government that is, the component units funds are accounted for just as they were funds of the primary government. Blending is...
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...THE IMPACT OF COMPUTER-BASED ACCOUNTING SYSTEMS ON MALAYSIAN PUBLIC SECTOR AGENCIES BY WAN ZURIATI WAN ZAKARIA A thesis submitted to the School of Business and Law, Central Queensland University, Australia, for the fulfilment of the requirement of the degree of Doctor of Philosophy (PhD) MAY 2014 ABSTRACT The positive and negative impacts of information technology (IT) have been continuously discussed and debated by researchers, practitioners and scholars for several years. In the public sector environment, IT can be a powerful tool for improving the delivery of government services with better collaboration among various governments. Therefore, the Malaysian Government, similar to many other governments, has planned and implemented a number of programmes to embrace the digital world by transforming itself to deliver information and services electronically. In public sector audit and accounting practices, the Malaysian Government has experienced local reform aimed at escalating transparency, streamlining accountability and improving overall financial management in line with international standards and practices. The purpose of this study is to evaluate the impact of computer-based accounting systems (CBASs) on the effectiveness of performing accounting tasks by Malaysian public sector agencies (PSAs). This study focuses on the impact of performancebased outcomes at three levels: individual task, accounting-related task, and organisational level...
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...| SUMMARY OF MAJOR CHANGES TO | |DFAS-IN REGULATION 37-1, CHAPTER 8 | |“OBLIGATION MANAGEMENT” | | | |All changes are denoted by blue font | | | |Substantive revisions are denoted by a ( preceding the section, | |paragraph, table or figure that includes the revision | | | |Hyperlinks are denoted by underlined, bold, italic, blue font | |PARA |EXPLANATION OF CHANGE/REVISION...
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...examine he rule of accountants in Third tier government and with particular reference to Brass Local Government Area of Bayelsa State. It will cleanly stray the importance of accountants in the third-tier government which is the local government level. The functions, duties and operational system of accountants in local government system can not be over stated. The research also went further to deals on the financial control and dealing of movement of fund or finance in the local Government system. At the end of this research, the role of accountant on accountability, probity and transparent way of spending local government finds will be the Hall mark of this work as to assist accountants in the third tier of the government to acquaint with its functions. This research is also to found out some problems that face the accountant and to proffer solutions to which is to better the accounting system as profession. 1 TABLE OF CONTENT Title page…………………………………………………………………………………..i Certification ………………………………………………………………………………ii Dedication …………………………………………………………………………………iii Acknowledgment……………………………………………………………………….iv Abstract …………………………………………………………………………………….v CHAPTER ONE INTRODUCTION 1.1 Back ground of the study 1.2 Statement of problem 1.3 Objective of the study 1.4 Significance of the study 1.5 Scope and limitation of the study 1.6 Literature Review 1.7 Hypothesis 1.8 Method of Data Collection and Analysis 1.9 Definition of Terms CHAPTER TWO 2.1 Geographical Location 2.2 Occupation...
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...AN INSTITUTIONALIST STUDY ON THE PERFORMANCE MANAGEMENT SYSTEM IN A GOVERNMENT- LINKED ORGANISATION NORHAYATI BINTI MOHD ALWI UNIVERSITI SAINS MALAYSIA 2009 AN INSTITUTIONALIST STUDY ON THE PERFORMANCE MANAGEMENT SYSTEM IN A GOVERNMENT-LINKED ORGANISATION by NORHAYATI BINTI MOHD ALWI Thesis submitted in fulfilment of the requirements for the degree of Doctor of Philosophy September 2009 ACKNOWLEDGEMENTS I am especially indebted to my supervisor, Dr. Siti Nabiha Abdul Khalid for her constant guidance, limitless support and patience throughout the period of my study. There is no way that I would be able to repay the kindness and caring that she has shown to me. I am thankful to Assoc. Professor Dr. Yuserrie, for giving valuable inputs to my study and also to others in the School of Management, who have helped me in some way or another. I would like to acknowledge the comments made by Professor Lee Parker and other participants of the Global Accounting and Organisational Change Conference, held in Melbourne, Australia in July 2008. A special thank you is also dedicated to Professor John Burns for the insightful comments on the research. I am also indebted to my employer International Islamic University Malaysia and the Ministry of Higher Education for providing the financial support. Thanks so much also to the respondents for their willingness to share some of their thoughts and experiences, which have made my data collection easier than I would ever...
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...Accountancy & Taxation ACCOUNTING 4330/5330/7330 ADVANCED ACCOUNTING Fall 2012 Instructor: Dr. George O. Gamble Office: 370 G Melcher Hall Office Hours: M 1:00-2:00; T&TH 4:30- 5:30 and by appointment COURSE PREREQUISITES You must have junior standing and have passed ACCT 3368 with a minimum grade of C to be enrolled in this class. In addition, you are expected to have a working knowledge of computer spreadsheets, such as Lotus or Excel, as taught in DISC 2373. REQUIRED TEXTS Advanced Accounting, 5th Edition, by Debra C. Jeter and Paul K. Chaney, John Wiley & Sons, Inc., 2012. Intermediate Accounting any current text. Green Scantrons to be used for taking examinations. OPTIONAL TEXTS Objective Questions and Explanations. Gleim and Collins, Gleim Publications, Inc., Most Recent Edition. (This text will also be beneficial for preparing for the CPA examination.) COURSE REQUIREMENTS: Exercises and problems assigned for each chapter are recommended for you to do on your own. Additional problems will be done in class to illustrate the concepts. The first two exams are cumulative due to the nature of the material covered and the content of the course and thus will count 50% of your grade, and a third (final comprehensive) exam will count 35%. Special assignments, including the FARS project, will count 15%. Exam coverage is as follows: Exam 1 Chapters 1-5 Exam 2 Chapters 6,7,8, 9 (pages 508-522) Exam 3 Chapters 11,12,13,15,16...
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...THE IMPACT OF SUPPLY CHAIN MANAGEMENT ON GOVERNMENT INSTITUTIONS A Research Dissertation by GEORGE FREDERICK JACOBSON STUDENT NO. 94032512 B. TECH: PURCHASING MANAGEMENT Submitted in partial fulfilment of the requirements for the degree MBA in the Business School Faculty of Management Sciences TSHWANE UNIVERSITY OF TECHNOLOGY Supervisor: Prof. J A Watkins Pretoria 4 June 2007 PUBLICATION OF DISSERTATION The attention of the reader is specifically drawn to the fact that the national Government departments, who sanctioned this research study, specifically requested that the work should not be published due to the sensitivity of ongoing remedial actions. DECLARATION OF COPYRIGHT I hereby declare that this dissertation submitted for the degree (Magister Technologia) at the Tshwane University of Technology, is my own original unaided work and has not previously been submitted to any other institution or higher education. I further declare that all sources cited are cited or quoted are indicated or acknowledged by means of a comprehensive list of references. G.F. JACOBSON Copyright© Tshwane University of Technology (2007) i DEDICATION This study is dedicated to my family and friends for their love and support through this process allowing me to grow as a person. ii ACKNOWLEDGEMENTS I would like to express my sincere gratitude and appreciation to the following: My Lord and Saviour, Jesus Christ for His continued blessings...
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