Questions from Accounting for Government and Non-Profit

Q: Which of the following terms best represents a broad concept of financial

Which of the following terms best represents a broad concept of financial health encompassing the government’s ability and willingness to meet its financial obligations and commitments to provide serv...

Q: The International City/County Management Association (ICMA) describes four

The International City/County Management Association (ICMA) describes four types of solvency within the concept of financial condition. Identify each type and explain why each is important to the long...

Q: Describe how citizens can use the financial trend monitoring system (FTMS

Describe how citizens can use the financial trend monitoring system (FTMS) of the ICMA to assess the financial condition of their local government.

Q: Describe how a taxpayer might assess the financial solvency and viability of

Describe how a taxpayer might assess the financial solvency and viability of a government using government-wide financial statements prepared according to generally accepted accounting principles.

Q: Explain what assessment can be made from the ratio unrestricted net assets

Explain what assessment can be made from the ratio unrestricted net assets as a percentage of total revenue that cannot be made from the ratio unreserved fund balances as a percentage of total revenue...

Q: Explain how organizational factors, such as management practices and legislative policies

Explain how organizational factors, such as management practices and legislative policies, affect a government’s financial condition.

Q: Should citizens be concerned if the pension plan funding measure decreases over

Should citizens be concerned if the pension plan funding measure decreases over time? Why?

Q: Identify some financial indicators or ratios that are designed to measure the

Identify some financial indicators or ratios that are designed to measure the short-term financial position of a governmental entity. Why are these measures not as useful in assessing long-term financ...

Q: “Credit or bond analysts are interested only in the financial condition

“Credit or bond analysts are interested only in the financial condition of the government when determining bond ratings.” Do you agree or disagree with this statement? Explain.

Q: What organizations does the governmental reporting entity include? Define primary government

What organizations does the governmental reporting entity include? Define primary government. How does a component unit differ from the primary government?