Question: locate and review the Annual Comprehensive Financial Report, https://www.houstontx.gov/controller/cafr/cafr2020.pdf Answer the following questions. What is the definition of a reporting entity per GASB? Did the

locate and review the Annual Comprehensive Financial Report, https://www.houstontx.gov/controller/cafr/cafr2020.pdf

Answer the following questions.

  • What is the definition of a "reporting entity" per GASB?
  • Did the entity report any component unit financial information? If it did, how did the entity report the results of its component unit (i.e., blended or discrete)? Does the GASB standards allow either blended or discrete presentation for component units?
  • Locate and review the demographic information including but not limited to population growth, employment, housing market etc. Then, outline the financial opportunities and challenges faced by the governmental entity?

* need page number too

Reference: https://www.houstontx.gov/controller/cafr/cafr2020.pdf

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