Reference no: EM131149222

Governmental Financial Reporting

Primary Task Response: Your first task is to post your own Key Assignment outline to the discussion area so that other students are able to review your plan.

Attach your document to the main discussion post, and include any notes you feel are appropriate. The purpose of this assignment is to help improve the quality of the Key Assignment draft you will complete next week.

This needs to be an outline for my next assignment.

This assignment is for my discussion board 4, I only need an outline for my individual project 4 instructions.We start on final projects, and the full project covers two separate conversations. We look at a government entity this week and a nonprofit entity in week 5.

Phase 4 IP: Examine key critical sections of the annual report for this city in Iowa. MD&A, many of the financial statement notes, and the statistics section are required per GASB 34, so make sure to cover GASB 34 in a robust manner throughout the paper. It says "rough" draft but there should be nothing rough about it. Make sure the Phase 4 IP is a solid paper.

Phase 4 DB: An outline of the Phase 4 IP will help with putting together a solid paper. It's optional but recommended to include the Phase 5 IP in your outline.

Review the Comprehensive Annual Financial Report (CAFR) for 2013 from the city of Cedar Falls, Iowa, and answer the following questions.

Explain how Cedar Falls follows the Government Accounting Standards Board (GASB) Statement No. 34. Create a brief outline that showcases the flow.

Read the management discussion and analysis (MD&A) section on page 18 and describe 2 or more significant areas that were addressed by management.

From the notes of the financial statements starting on page 46, describe which accounting policies are being utilized by the city.
What did you discover in the statistical section?

How is the city doing?

Provide an analysis.

Examine the funds listed under the budget on page 37 and discuss how they are being utilized by Cedar Falls. Include some examples of items that would be included in these funds and any restrictions that might apply.

By looking at the budget starting on page 81, choose 2 different funds and discuss how they are being utilized by Cedar Falls. Include some examples of items that would be included in these funds and any restrictions that might apply.

Define and give examples of the infrastructure assets that are held by Cedar Falls.

Describe the circumstances, and provide the journal entries for the 2 entries that are going in to the general fund.

For example, 1 entry goes into the debt service fund and 1 goes into the capital projects fund.