1 Introductory Section Yes, it defines the governmental reporting entity and the primary government is The Lansing Building Authority. Component unites are The Lansing Entertainment & Public Facilities Authority, Tax Increment Finance Authority, the Smart Zone, and the Brownfield Redevelopment Authority Yes, the introductory section discusses the financial condition of the reporting entity at the balance sheet date. Yes, it discuss the most significant changes in financial condition occurred
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PA504 – Governmental and Nonprofit Accounting Case Study Week Two Questions (40 points) Please provide a page reference to the CAFR (not the pdf) for each response if applicable. 1. Who prepared the CAFR? The Metropolitan Government of Nashville and Davidson County’s Department of Finance prepared the CAFR. 2. What is the length of the CAFR? The Length of the CAFR is 307 pages. 3. Describe briefly the form of government for The Metropolitan Government of Nashville and Davidson County
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Program at Harvard Business School and the General Motors Advanced International General Management Program in Switzerland. District Demonstrates Accountability of its Funds State and federal statutes require that the District issue annual financial reports and such reports be audited by an
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not-for-profits including governments is that businesses have profit as their main motive whereas the others have service. A primary purpose of financial reporting is to report on an entity’s accomplishments — how well it achieved its objectives. Accordingly, the financial statements of businesses measure profitability, their key objective. Financial reports of governments and other not-for-profits should not focus on profitability, since it is not a relevant objective. Ideally, therefore, they should focus on
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definition provided by the Bureau of Census for a special district. Therefore, a special district could be considered a type of primary government. 9-2. The letter of transmittal generally cites legal and policy requirements for the report. It can also provide information on factors relating to government services and operations. Since the transmittal letter is generally not a part of the audit, it can include somewhat subjective information. On the other hand, the MD&A is considered
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False 8. The needs of users of government financial reports are the same as those of users of business entity financial reports. True False 9. The Federal Accounting Standards Advisory Board (FASAB) recommends accounting principles and standards for the federal government and its agencies and departments. True False 10. The FASB, GASB, and FASAB identify primarily external users as the focus of their financial reports. True False 11. Interperiod equity refers
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Comprehensive Annual Financial Report Briefing: Each year the Los Angeles County Office of Education issues a Comprehensive Annual Financial Report (CAFR). The most recent report as the 2012 that was created by Alexander Cherniss, Ed.D., Chief Business Officer, fiscal year ending June 30, 2012. Presently no boundary changes during the fiscal year. The purpose of this paper is to provide an overview of government accounting and reporting. Governmental Accounting and Reporting Budgeting and
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PUB 04 , AL Public Budgeting and Finance Mid-term Exam Brandon Alford 4 Discuss the financial controls within governmental agencies, communication of the budgetary process as well as maintaining budget compliance? Local government implements budgets with the common purpose of any financially sound business; to plan and forecast how revenues will be managed. However, local government budget standards are fundamentally different from the common public business enterprises in several important
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In this document of ACC 548 Final Exam you will find the next information: 1. Under GASB rules for the financial reporting entity 2. According to GASB Statement No. 44, all of the following is a recommendation category for the CAFR Business - Accounting Assume a government is a special-purpose government engaged in only one governmental activity. Which financial statements would be require A public college had tuition and fees of $20,000,000. Scholarships, for which no services were required
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Annual Report 2007-2008 Bangladesh Rural Development Board "Palli Bhaban" 5, Kawran Bazar, Dhaka - 1215 Bangladesh. BRDB Annual Report – 2007 - 2008 Editorial Committee ----------------------------------------------------------------Md. Atiqur Rahman Khan Director (Planning, Evaluation & Monitoring) Convenor Mustafa Kamal Joint Director (REM) - Member Kazi Md. Ali Hossain Deputy Director (Planning) - Member Jebun Nahar Deputy Director (Monitoring) -
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