What were the major industries or sectors of the economy, as presented in the Introductory section? Was
Fantastic news! We've Found the answer you've been seeking!
Question:
- What were the major industries or sectors of the economy, as presented in the Introductory section?
- Was an independent audit conducted, and in the auditor's opinion, were the financial statements presented fairly?
- Note two interesting thing from the MD&A section about the financial condition of the city?
- Review the Statement of Net Position, and consider the following:
- What percentage of the assets was liquid (cash) and what percent was capital?
- What percentage of the total liabilities was pension-related?
- What was their Unrestricted Net Position?
- If this number is negative, this may, or may not, indicate financial distress, and should be examined further.
- Use both ratios to assess the city's solvency.
- The Liabilities-to-Assets Ratio: Divide total liabilities by total assets.
- The Liabilities-to-Net-Position Ratio: Divide total liabilities by net position.
- Review the Statement of Activities and consider each of the functions/programs as a percentage of the total government spending.
Related Book For
Posted Date: