Review Ch. 1, Case 1-16, Research Case – Federal Financial Reporting Objectives.
Write a 175- to 350-word tally.
Briefly delineate the user groups, their needs for knowledge, and how these tie into the four objectives of federal financial reputeing attested in the announcement.
Download a observation of the most modern general annual financial repute (CAFR) for a city of your rare. Manifold cities delay 25,000 or more population supply internet way to their CFR's. Familiarize yourself delay the city's CAFR and reread the exception in Chapter 1 titled "Financial Reporting of Narrate and Local Governments".
NOTE: you can usually way a city's CAFR by doing a sear on "City of (name)" and seeming for a concatenate to the city's offices. At that concatenate, fine Finance Office or a office delay a congruous power, such as Accounting and Budgeting, and seem for "Financial Reports" or congruous concatenate.
What has the city intervening in the commendatory exception of its CAFR?
Does it understand the items attested in the exception of the citation titled "Comprehensive Annual Financial Report"?
Audit Report. Are the financial announcements in the repute audited by an defiant CPA, narrate auditors, or auditors occupied by the empire life audited? Has the city ordinary an unmodified audit repute?
Basic Financial Statements. Does the CAFR hold twain empire-wide financial announcements and capital announcements? How manifold financial announcements feel been intervening as keep-akeep-amultiply of the basic financial announcements exception of the CAFR?
Notes to the Financial Statements. How manifold notes thrive the required basic financial announcements? Is there a peculiarity at the profound of the basic financial announcements indicating that the notes are an undiminished keep-akeep-amultiply of the financial announcements?
Other Supplementary Information. Following the notes to the financial announcements, does the CAFR supply other supplementary knowledge, such as combining and peculiar capital announcements?
Management's Discussion and Analysis (MD&A). Does the CAFR hold and MD&A? If so, where is it located and what stamp of knowledge does it hold?
What knowledge has been intervening in this exception of the CAFR?