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Assignment 2
Week 2:
Exercise 4-15: Examine the CAFR
Click the Access Point to Wk
2: Exercise 4-15: Examine the CAFR
Complete Exercise 4-15: a. (1) b. (1) c. (1)
Download the most recent Comprehensive Annual
Financial Report (CAFR) for a city of your choice.
Note: many cities with 25,000 or more
population provides Internet access to their CAFRs to answer.
Week 2:
Exercise 4-15: Examine the CAFR
4-15 |
Examine the CAFR. Utilizing the comprehensive
annual financial report obtained for Exercise 1-16, follow these
instructions. a. Governmental Activities,
Government-wide Level. Answer the following questions. (1) Are governmental
activities reported in a separate column from business-type activities in the
two government-wide financial statements? (2) Are assets and liabilities
reported either in the relative order of their liquidity or on a classified
basis on the statement of net position? (3) Is information on expenses for governmental
activities presented at least at the functional level of detail? (4) Are
program revenues segregated into (a) charges for services, (b)
operating grants and contributions, and (c) capital grants and
contributions on the statement of activities? b. General Fund. Answer the following questions.
(1) What statements and schedules pertaining to the General Fund are
presented? (2) What purpose is each statement and schedule intended to serve?
(3) Are any noncurrent or non liquid assets included in the General Fund
balance sheet? If so, are they offset by equal amounts classified as “non spendable”
fund balances? (4) Are any noncurrent liabilities included in the General
Fund balance sheet? If so, describe them. (5) Are revenue classifications
sufficiently detailed to be meaningful? (6) Has the government refrained from
reporting expenses rather than expenditures? c. Special Revenue Funds. Answer the following questions.
(1) What statements and schedules pertaining to the special revenue funds are
presented? (2) Are these only combining statements, or are there also
statements for individual special revenue funds? (3) Are expenditures
classified by character (i.e., current, intergovernmental, capital outlay,
and debt service)? (4) Are current expenditures further categorized at least
by function? |