Questions from Accounting for Government and Non-Profit

Q: Explain the difference between a blended and discretely presented component unit,

Explain the difference between a blended and discretely presented component unit, and explain how each is reported.

Q: When conducting a financial analysis, ratios based solely on governmental fund

When conducting a financial analysis, ratios based solely on governmental fund financial statements would not be considered sufficient for assessing economic condition. Explain why this statement woul...

Q: Should citizens be concerned if the funded ratio for pension plans decreases

Should citizens be concerned if the funded ratio for pension plans decreases over time? Why?

Q: In 2013, the Tampa Bay Times published a series of four

In 2013, the Tampa Bay Times published a series of four articles uncovering some of the worst charities in America. Read the articles ( www.tampabay.com/topics/specials/ worst-charities. page ) and...

Q: Government Auditing Standards specifically outline an auditor’s responsibilities with respect to ethics

Government Auditing Standards specifically outline an auditor’s responsibilities with respect to ethics and independence. What are the ethical principles and primary considerations with regard to inde...

Q: Identify factors that the rating agencies use in determining bond ratings.

Identify factors that the rating agencies use in determining bond ratings. Which of the factors identified is beyond management control and how could this factor affect the government’s finances?

Q: What is EMMA and when would someone want to use EMMA?

What is EMMA and when would someone want to use EMMA?

Q: What is the purpose of a financial audit? Who is responsible

What is the purpose of a financial audit? Who is responsible for setting standards for financial audits of government and not-for-profit organizations?

Q: What are the three types of auditor services described in the Government

What are the three types of auditor services described in the Government Accountability Office’s Government Auditing Standards, and how do they differ?

Q: In the context of a government audit, what is an opinion

In the context of a government audit, what is an opinion unit, and of what significance is an opinion unit to the auditor?