Select one (1) native authorities in your state or area and overview the financial statements and audit report for the county or municipality. The financial statements of the federal authorities you selected must have a minimum of three (Three) funds. Talk about with the persevering with downside homework for Weeks 1 by way of Three for this venture.
Write a three to five (Three-5) net web page paper whereby you:
1. Study and distinction the superb annual financial report (CAFR) of the chosen native authorities entity with the federal authorities entity acknowledged from Week 1 homework. In your comparability, embody:
a. Publication strategy of the CAFR
b. Audit and funds information inside the CAFR
c. The sort of audit report issued
d. Existence or non-existence of an inside audit carry out contained in the authorities entity
2. Put collectively the analysis for the chosen native authorities entity, along with information on the introduction, financial half, and statistical half prepared inside the persevering with downside CAFR from chapter 2.
Three. Analyze the methods utilized by the chosen native authorities entity in evaluating the budget-to-actual critiques. Your analysis must embody an evaluation of the premise of accounting used for the funds and financial statements.
4 .Analyze the sources of revenue on the chosen native authorities. Your analysis must embody information on every governmental and business-type actions of the federal authorities. In your report, keep in mind to take a look at
a. Property taxes and the way in which they’re accounted for
b. Completely different sources acknowledged as most important revenue for the entity
c. Deferred revenue
d. 12 months-to-year variations inside the tax ranges of earnings
e. Quite a few administration dialogue and analysis devices of discover
f. Particulars concerning the general fund
Your venture ought to observe these formatting requirements:
Be typed, double spaced, using Events New Roman font (measurement 12), with one-inch margins on all sides; citations and references ought to observe APA or school-specific format. Confirm collectively together with your professor for any additional instructions.
Embrace a cover net web page containing the title of the venture, the scholar’s title, the professor’s title, the course title, and the date. The cover net web page and the reference net web page won’t be included inside the required venture net web page measurement.
The exact course finding out outcomes associated to this venture are:
Take into account the financial reporting of state and native governments and assess the reporting requirements in accordance with governmental accounting necessities board (GASB).
Analyze governmental actions related to expenditures and payments.
Use experience and data sources to evaluation factors in authorities and not-for-profit accounting.
Write clearly and concisely about authorities and not-for-profit accounting using right writing mechanics.