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To what extent would the basic financial statements be less

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Reference no: EM13904784

(Notes to the Financial Statements) Obtain a recent CAFR or the Basic Financial Statements of a state or local government (SLG).

Required

Study the Basic Financial Statements and related notes, make a copy of or prepare a table of contents to the notes, and answer the following questions from a note disclosure perspective:

• 1. What information can one learn about the state or local government from the notes that is not apparent from the face of the financial statements?

• 2. Pretend there were no notes. To what extent would the Basic Financial Statements be less useful? Why?

• 3. Which notes did you find the most interesting and useful? Why?

• 4. Which notes did you consider less useful? Why?

Reference no: EM13904784

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