Questions from Accounting for Government and Non-Profit

Q: What is a financial reporting entity and what organizations generally make up

What is a financial reporting entity and what organizations generally make up a financial reporting entity?

Q: Explain the difference between a primary government and a component unit.

Explain the difference between a primary government and a component unit.

Q: The controller is considering whether a component unit should be presented in

The controller is considering whether a component unit should be presented in the financial statements as a discrete or a blended component unit. What should be considered in making the decision?

Q: Explain the difference between a CAFR and general purpose external financial reports

Explain the difference between a CAFR and general purpose external financial reports.

Q: Assuming that a government has governmental, proprietary, and fiduciary funds

Assuming that a government has governmental, proprietary, and fiduciary funds, identify the nine financial statements that must be prepared for the CAFR.

Q: What is OCBOA and why would a government choose to use OCBOA

What is OCBOA and why would a government choose to use OCBOA rather than GAAP?

Q: Following are descriptions of several relationships between primary governments and other organizations

Following are descriptions of several relationships between primary governments and other organizations.* Required Using just the information provided, indicate whether you believe the primary govern...

Q: Describe the business-type activities of a state or local government

Describe the business-type activities of a state or local government and explain how and why accounting and financial reporting for business-type activities differ from those for governmental activiti...

Q: The MD&A for the 2007 City and County of Denver

The MD&A for the 2007 City and County of Denver CAFR is included as Appendix B in this chapter. On the following pages are selected tables from the statistical section of the 2007 CAFR. Use the MD...

Q: You have just been hired as an accountant for a large metropolitan

You have just been hired as an accountant for a large metropolitan city in the eastern part of the country. Your first assignment is to assist the finance director in the preparation of a “pop...