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Question - Analyzing Budget and Actual Data - Using the finance or similarly named department link of a city or county's website, locate the government's comprehensive annual financial report (CAFR). (You also may be able to find the government's CAFR by typing the government name and "CAFR" into an Internet search engine.) Look through the table of contents or use a search tool to access the budget to actual data for the government's General Fund. This may be found in a Budgetary Comparison Schedule; in a Statement of Revenues, Expenditures, and Changes in Fund Balance-Budget and Actual; or in a Schedule of Revenues, Expenditures, and Changes in Fund Balance-Budget and Actual.
Required -
a. Examine the schedule or statement in detail. Is it similar in form to Illustration 4-6? Does it include columns for the legally adopted original and final budgets, as well as actual amounts? Is a variance column presented?
b. Were significant changes made between the original and final budgets? Are there major differences between the final budget and actual amounts? If there were significant changes in total revenues between the original and final budgets, do you note corresponding changes in expenditures?
c. Peruse the Management's Discussion and Analysis (MD&A) within the CAFR and review any budgetary highlights or discussion of budgetary issues. Brief paragraph summarizing budget changes made during the year. Identify reasons for budget amendments, if available.
Cash and assumed debt with a bookvalue of $20,000 (which was also its fair value). How much identifiable asset did CVN receive in the transaction?
During the year, he earns gross revenues of $49,000 and incurs $6,000 of business expenses. His itemized deductions for the year are $7,000. Determine Philip's taxable income and his total tax liability (Self-employment and regular tax.)
How could Alex contact all of the members of Acme Ltd? How might Acme Ltd be able to prevent Alex from contacting all of the company's members
What is the expected return standard deviation of a portfolio invested 60 percent in K and 40 percent in L -
There were no other items includable in her gross income. What is the amount of her adjusted gross income?
The office furniture needs to be depreciated for the month of January. When the office furniture was purchased, it had a book value of $20,000.
Canada Company had the following operating data for the year for its computer division: sales, $650,000; What is the controllable margin for the year
Examine the features of your present credit card. (If you do not have a credit card, select a likely one online for this exercise.)
For the three months ended March 31, 2012, Addyson sustained a net loss of $64,000. The balance of Addyson's Retained Earnings as of March 31, 2012
At the end of Year One, On its Year Two income statement, what amount should be reported as the company's income tax expense-deferred?
Indicate the statement presentation of the related unrealized gain (loss) accounts for each class of securities.
calculation of net income from the change in stockholders equity. presented below is certain information pertaining to
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