You work in the finance department of the City of
You work in the finance department of the City of Oldhaven. Denis Dubé, the owner of a successful local car dealership, has just started as a new city councilor. He is confused by the city's financial statements. Denis uses ASPE in the accounting for his business and is not familiar with the public sector accounting framework.
Required
Prepare a briefing note (a concise summary, generally not more than 500 words) for Denis setting out the key indicators and other information found in a municipal financial statement, what they mean, and how they might be different from the financial statements of a profit-oriented enterprise.
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