Questions from Accounting for Government and Non-Profit

Q: How does the accounting for an internal investment pool differ from the

How does the accounting for an internal investment pool differ from the accounting for an external investment pool?

Q: GASB standards require that investments be reported at fair value. Explain

GASB standards require that investments be reported at fair value. Explain the GASB reporting requirements related to fair value. How do these requirements differ from reporting requirements for corpo...

Q: Explain the difference between a private-purpose trust and a public

Explain the difference between a private-purpose trust and a public-purpose trust. How does the reporting for the two types of trusts differ?

Q: If you were trying to assess the financial health of a government

If you were trying to assess the financial health of a government administered pension plan, which financial statements or schedules would you review and why?

Q: What are the two types of risk that are of concern to

What are the two types of risk that are of concern to investment managers? Define each type of risk.

Q: Place the abbreviations corresponding to the appropriate reporting attribute(s)

Place the abbreviations corresponding to the appropriate reporting attribute(s) in the spaces provided for each financial statement. Include all that apply.

Q: While the examples in this chapter have focused on a single-

While the examples in this chapter have focused on a single-employer plan, many states operate statewide plans, referred to as Public Employee Retirement Systems (PERS), to which multiple employers co...

Q: Following is a list of fund names and descriptions of funds from

Following is a list of fund names and descriptions of funds from comprehensive annual financial reports (CAFRs). Required For each fund, indicate which type of fund should be used to account for the...

Q: GASB standards require that governments report other postemployment benefits offered to employees

GASB standards require that governments report other postemployment benefits offered to employees. A typical example of such benefits is health care provided to retirees. It is estimated that the unre...

Q: The county collector of Lincoln County is responsible for collecting all property

The county collector of Lincoln County is responsible for collecting all property taxes levied by funds and governments within the boundaries of the county. To reimburse the county for estimated admin...