Description
Prepare a report for the mayor and city council on your proposed expenditure plan. Full Assignment requirements are attached
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Running head: PROPOSAL REPORT FOR FACILITY EXPANSION
Proposal Report for Facility Expansion
Student’s name
Course
Date
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PROPOSAL REPORT FOR FACILITY EXPANSION
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Introduction
This paper is a proposed facility report which analyzes financial information and risks
associated with investment to expand an organization’s facility and make a recommendation on
whether or not to invest in expansion. It will provide a review of information and risks associated
with investment to expand the organization’s facilities. The findings of this report shall be
presented to the organization and to form part of an academic resource for scholars and other
stakeholders.
Currently, I am the chief operating officer of a large non-profit hospital. The board of
directors has requested me to prepare a summary of the issues involved in a $50 million
expansion. However, due to local political matters and the uncertainty of the financial policy of
recently elected U.S officials, they may have to scale the extension back to $25 million.
As the Chief Operating Officer, I must carry out an expenditure analysis of the company,
prepare an expenditure plan for the company and then advice the stakeholders such as the mayor
and the city about my reports and a proposal for a new expenditure plan. It demonstrated my
prowess in this task; I will analyze the accounting principle or policies applied by the public
sector accountants as well as the private sector accountant. In addition to the accounting
principles, I will examine the differences that exist between the two sectors and their accounting
principles. I will analyze the approaches put in place to control and regulate the expenditures in
the public service and to identify which method is appropriate for the proper management of
federal spending. Lastly, I will analyze some of the requisites for the preparation and reporting of
the statutory statements as required by the government.
PROPOSAL REPORT FOR FACILITY EXPANSION
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Differences between the government accounting policies and the Private Sector Accounting
Principles
There are several differences in the manner in which the government accounting policies
and the Private Sector Accounting Principles are applied. The government accounting principle
is a concept used to refer to the government accounting system, which is, in most cases interested
in carrying budgeting and adequate financial management goals. The government is not in the
business of making a profit while the private firms are in the business of making a profit. The
purposes of preparing the two classes of accounting institutions, therefore, bring about the
contrasting opinions regarding the accounting principles applied in both public as well as private
firms. Public accounting policies are based on proper budgeting and financial management,
while the private sector accounting principle is based on achieving a particular set of goals from
time to time (Hadden, 2009).
In every level of accounting principles in use within a particular country, the power or
strength of the accounting policies lies within the public sector and not the presumed private
sectors; this initiates the difference of public sector accounting sector principles being too
powerful than the private sector accounting sector. The federal government plays significant
roles within the society, which makes the public sector accounting principle to use severally than
their private sector counterparts. This offsets the center stage as to why the government
accounting policies are more potent than the individual based accounting principles.
The U.S federal system has not proposed particular accounting standards that can act as a
basis for both the public sector and the private sector companies. On the contrary, the public
sector has been given the mandate to publish their annual financial statement at the end of the
PROPOSAL REPORT FOR FACILITY EXPANSION
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trading to the public ...