Unit 4DB Outline and Unit 4IP Assignment Draft

timer Asked: Mar 1st, 2018
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Question description

I need an outline for the below listed then I need the below listed to be completed I was unsure how to submit it to you where you would understand the requirements...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.

Key Assignment Draft

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.

Tutor Answer

School: University of Virginia



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Question 1.

Cedar falls follows regulations under statement 34 of the Government Accounting Standards
Board (GASB) through the following outline

Cedar falls observes;

MD&A aspects which provide an analysis of all the financial activities of the local government
that is objective and easily understandable based on known facts. The aim is to provide
comparisons obtained from government-wide information including the financial position with
specific regard to improvement or deterioration. Changes in funds and budget variances are also
recognized describing capital assets long-term debts. Cedar falls conclude by providing
descriptions of known facts and decision affecting the financial position.

Cedar Falls also observes the various government-wide financial statements assets. This includes
reporting on capital assets, statement of net assets and the depreciation of expenses in the
statement of activities. It do...

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Outstanding Job!!!!

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