Why do some analysts see the budget of a government as being of no less importance than its CAFR in assessing ﬁnancial condition?
Answer to relevant QuestionsThe GASB requires governments to identify their principal taxpayers in their CAFRs’ statistical section. In what way does this information contribute to an analysis of ﬁnancial condition?A city's reporting entity includes the following component units:1. A capital projects ﬁnancing authority purchases capital assets and leases them exclusively to the city. It ﬁnances the acquisitions by issuing revenue ...The following data were drawn from the CAFRs of two northern Virginia cities (all dollar amounts are in thousands):a. Per capita total general-fund taxes?b. Per capita property taxes?c. Tax rate (i.e., property taxes as a ...Owing to severe ﬁscal problems as well as a pattern of management incompetence and corruption, a city is placed under the control of a special authority established by the state. The authority has the power to impose its ...In what signiﬁcant ways do the FASB standards differ from those of the GASB with respect to the statement of cash ﬂows?
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