Explain the reporting requirements for internal service funds and enterprise funds. Internal service funds and enterprise funds are both proprietary funds, so why do their reporting requirements differ?
Answer to relevant QuestionsWhen is a city required to establish an enterprise fund?During 2014, the Town of Falmouth had a number of transactions that affected net position of its town skating rink, which is operated as an enterprise fund. You are provided with the following information for 2014:1. The ...In the wake of turbulent financial times, policymakers in your state have been talking about shifting from a defined benefit pension plan to a defined contribution pension plan or a hybrid alternative for new state ...While many governments report only annually, the City of Fort Collins, Colorado, provides monthly financial reports on its Web site. Such information increases the accountability of government to its financial report users. ...The City of Lawton, Oklahoma, uses the Crawford Performeter® as a financial analysis tool. Results of the analysis are made available to the public. Performance measures from the City of Lawton’s 2009 Performeter® ...
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