Questions from Accounting for Government and Non-Profit

Q: How are the capital projects and debt service funds reported in the

How are the capital projects and debt service funds reported in the government‐wide statement of net position?

Q: In June 2018, Jason King completed his audit of a 2017

In June 2018, Jason King completed his audit of a 2017 grant that a city made to Field of Dreams, a private, not‐for‐profit organization that sponsors recreational programs for disadvantaged teens. In...

Q: The Office of the Treasurer maintains an investment pool for several quasi

The Office of the Treasurer maintains an investment pool for several quasi‐independent governments, such as housing authorities and development boards, affiliated with a city. Michelle Ruiz, a senior...

Q: In verifying the capital asset records of the electric utility department,

In verifying the capital asset records of the electric utility department, Jean Hanson, staff auditor of a city’s internal audit department, noted that several trucks and pieces of equipment were out...

Q: Henry Green is the assistant to a county’s comptroller. During the

Henry Green is the assistant to a county’s comptroller. During the year he becomes aware of several accounting and budgeting practices that, taken together, clearly establish a pattern that the county...

Q: As business officer of a school district, Charles Bidright is required

As business officer of a school district, Charles Bidright is required to sign off on all purchase orders over $1,000. Under state law and district policy all orders over $5,000 must be put out for bi...

Q: Five (of 10) members of a town council returned from

Five (of 10) members of a town council returned from the three‐day national convention of town council members in Las Vegas and submitted their expenses for reimbursement. The bills they presented ind...

Q: State law requires that school district budgets be balanced. After having

State law requires that school district budgets be balanced. After having worked for weeks to reduce expenditures to the minimum that would be educationally acceptable and politically feasible, the sc...

Q: In what significant ways would each of the three major statements of

In what significant ways would each of the three major statements of a government hospital differ from those of a private not-for-profit hospital?

Q: Merrill Sachs is an accountant with the treasurer’s office of a midsize

Merrill Sachs is an accountant with the treasurer’s office of a midsize city. The city is about to issue $50 million in general obligation bonds to construct a new office complex. The treasurer has re...