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Using the finance or similarly named department link of a city's Web site, download either the city's entire comprehensive annual financial report (CAFR) or, if possible, just the portion of the CAFR that contains the basic financial statements. Print a copy of the government-wide statement of activities and a copy of the statement of revenue, expenditures, and changes in fund balances, governmental funds, along with the reconciliation between these two statements, and respond to the requirements below. The city manager is concerned that some recently elected members of the city council will get a mixed message since the change in net position reported for governmental activities is noticeably different from the change in fund balances reported on the governmental funds statement of revenues, expenditures, and changes in fund balances. The city manager has requested that you, in your role as finance director, explain to the city council in clear, easy to understand terms for which purposes each operating statement is intended and how and why the operating results differ.
A) Examine the two operating statements in detail, paying particular attention to the lines on which changes in net position and changes in fund balances are reported and develop a list of reasons why the two numbers are not the same.
B) Prepare a succinct and understandable explanation of the results of operations of the government from the perspective of each operating statement, in terms that a non accountant council member would be able to understand.
Evaluate what is Progressive's cost of equity and corporate cost of capital now and show the value of Progressive, with and without costs of financial distress, as a function of the amount of debt. Why do the lines differ in shape?
what are the equivalent units for May using materials using FIFO and what the equivalent units for conversion cost for May using FIFO?
questionpeak performance inc. reported total income of 250000 for the year ended december 31 2009. peak performance
betty whose tax rate is 33 is in the business of breeding and racing horses. except for the transactions below she has
Water Planet is considering purchasing a water park in Atlanta, Georgia, for $1,870,000. The new facility will generate annual net cash inflows of $460,000 for eight years. Engineers estimate that the facility will remain useful for eight years an..
Find what is the overall completion percentage for WIP as to direct materials at end of the period?
Prepare an Excel format to show how you are evaluating things. Provide detailed information of profitability by product and for year. Then make precise recommendations with financial projections.
the coca-cola company and subsidiariesconsolidated statements of incomeyear ended december 31 2005 2004 2003in millions
It is time for the annual budgeting process at your call center company. To kick-off the process, all the department managers and the plant accountant are meeting to discuss the budgeting process.
Evaluate maximum opportunity cost of capital in both the Base Case and the Bicycle Scenario such that you could undertake the Segway People Mover Project?
Calculate Polks manufacturing cost per unit for 2012 - Manufacturing cost per unit - The parts of this question must be completed in order
q1. the reluctance of managers to lay off employees when activity declines in the short-run leads to an increase
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