Not-for-Profit Accounting: Ch.1: Exercise 1-1‚ Questions 1‚ 3‚ 4‚ 5‚ 7‚ 8 Ch. 2: Question for Review and Discussion 12. In addition to answering question 12‚ provide a response in 150-350 words differentiating between a budget and a Comprehensive Annual Financial Report (CAFR). Ch. 3: Exercise 3-2‚ Questions 1‚ 2‚ 3‚ 6‚ 8‚ 9 You may want to develop a set sleep schedule when you are in college. Sleep deprivation is common amongst college students who balance work‚ classes and social lives.
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purpose is to improve and create accounting reporting standards or generally accepted accounting principles (GAAP). These standards make it easier for users to understand and use the financial records of both state and local governments. The Government Accounting Standards Board (GASB) is funded and monitored by the Financial Accounting Foundation (FAF). The GASB was created in 1984 to succeed the National Council on Governmental Accounting (NCGA) by agreement. Although the GASB does not have the power
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distinction for financial reporting? The defining distinction is that for profit businesses focus on generating a profit every year‚ whereas government entities and not-for-profit organizations focus on improving and enhancing the quality of life in their communities. 3. How and why might the importance of the budget affect generally accepted accounting principles for external (general-purpose) reports? The importance of the budget might affect GAAP for external reports because financial statements
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ACCT560 Government and Not-for-Profit Accounting Spring 2014 Project #1 CAFR Due Wednesday‚ February 5‚ 2014 at 5:30pm EST Objective: To examine a Comprehensive Annual Financial Report (CAFR) for Montgomery County‚ Maryland (A neighboring county located near American University). Deliverable: Turn in a hardcopy of your answers by the due date (See the Required: section for more details). Late submissions are heavily penalized or may not be accepted. Required: You must work individually
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1 ACCOUNTING AND FINANCIAL REPORTING IN A CHANGING ENVIRONMENT: HISTORICAL AND THEORETICAL PERSPECTIVES (Essays in Economic and Business History Volume XVI 1998:307-329) Stanley C. W. Salvary‚ Canisius College ABSTRACT Over time‚ a changing environment has produced changes in the types of accounting information and in the dissemination of such information (financial reporting). Certain changes in the environment do impel changes in accounting. This paper examines various theoretical
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accounting division of Sacramento has received multiple Certificates of Achievement for Excellence in Financial Reporting over the years‚ showing a high level of fiscal responsibility as well as the basis for true accountability to the people. Part 1: CAFR Analysis Sacramento can be seen as a full-service city. They prepare the regular‚ annually mandated called the Comprehensive Annual Financial Report (CAFR). The CAFR is divided into separate‚ specific categories of information‚ joined together
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similar to the 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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This pack of ACC 380 Week 3 Discussion Question 1 comprises: Internal Service and Enterprise Funds Exercises 6-2 and 6-3 Business - Accounting Accounting and Financial Reporting . From Chapter 1 complete Exercise 1-6 and Exercise 1-9. From chapter 2 complete Exercise 2-2 and post the answers to the discussion board. Do not forget to show all necessary steps and explain how you attained the outcome. Respond to at least two of your classmates’ postings. GASB‚ CAFR ISSUES
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Writing Assignment #3: Analyzing the Annual Report There are three main goals of an annual report: to disclose company information‚ to maintain current shareholders‚ and to attract new investors. Walmart‚ the largest retailer in the world‚ uses both verbal and visual strategies to achieve not only the three main goals of an annual report‚ but to reflect the corporate culture and values that embody Walmart. Three strategies that Walmart uses to reflect their goals and values are repetition of
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A nnuAl RepoRt contents peRfoRmAnce summARy Performance Summary 1 Growth Plans 2 Chairman’s Report 10 Managing Director’s Report 12 The Results in Brief 14 Food‚ Liquor and Petrol 16 General Merchandise 22 Hotels 24 Home Improvement 26 Consumer Electronics 27 Discontinued Operations 27 Overheads‚ Expenses and Balance Sheet 28 Capital Management and Outlook 29 Board of Directors 32 Directors’ Statutory Report
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