Reference no: EM132504933 , Length: 5

Write a three- to five-page paper in which you do the following:

Question 1: Compare and contrast the Comprehensive Annual Financial Report (CAFR) of the selected local government entity with the government entity identified in the Week 1 homework. In your comparison, include the following:

1. The publication method of the CAFR;
2. Audit and budget information in the CAFR;
3. The type of audit report issued; and
4. The existence or nonexistence of an internal audit function within the government entity.

Question 2: Prepare the analysis for the selected local government entity, including information on the introduction, financial section, and statistical section prepared in the Continuing Problem CAFR from Chapter 2.

Question 3: Analyze the methods used by the selected local government entity in comparing the budget-to-actual reports. Your analysis should include an evaluation of the basis of accounting used for the budget and financial statements.

Question 4: Analyze the sources of revenue for the selected local government. Your analysis should include information on both governmental and business-type activities of the government. In your report, be sure to examine the following:

1. Property taxes and how they are accounted for;
2. Other sources identified as primary revenue for the entity;
3. Deferred revenue;
4. Year-to-year variations in the tax levels of income;
5. Various management discussion and analysis items of note; and
6. Information about the general fund.