Use the Internet to review a government’s CAFR. Examine the governmental fund financial statements, the governmental activities sections of the government- wide financial statements, and the reconciliations between the two sets of statements. Trace the items that make up the reconciliations back to the financial statements as best you can. Write a brief report explaining the nature of each item of the reconciliation.
Answer to relevant Questions(Multiple Choice) 1. In government- wide financial statements, for which activities is depreciation reported? a. Only for governmental activities b. Only for business- type activities c. For both governmental and business- ...Punkeytown carries no insurance for possible claims and, as of January 1, 2013 (the start of its fiscal year), Punkeytown had no outstanding claims. During 2013 a town water main burst, flooding the basements of two property ...The following information is taken from Hamilton Township’s December 31, 2013, trial balance after all adjustments were made for preparation of the government- wide financial statements. Hamilton Township has governmental ...What are the two components of an agency’s net position? Describe the major causes of the year-to- year changes in each component. Match the items in the following right column with those in the left column:1. An act of Congress that gives a department and/ or agency authority to obligate the federal government to make disbursements for goods and ...
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