Assignment 1: Financial Statement / Audit Report Review Due Week 4 and worth 240 points Please do it

Assignment 1: Financial Statement / Audit Report Review

Due Week 4 and worth 240 points

Please do it on a government in South Carolina

Select one (1) local government in your state or area and review the financial statements and audit report for the county or municipality The financial statements of the government you selected should have at least three (3) funds Refer to the continuing problem homework for Weeks 1 through 3 for this assignment

Write a three to five (3-5) page paper in which you:

1Compare and contrast the comprehensive annual financial report (CAFR) of the selected local government entity with the city of Austin report from Week 1 homework In your comparison, include:

aPublication method of the CAFR

bAudit and budget information in the CAFR

cThe type of audit report issued

dExistence or non-existence of an internal audit function within the government entity

2Prepare the analysis for the selected local government entity, including information on the introduction, financial section, and statistical section prepared in the city of Austin’s CAFR from chapter 2

3Analyze the methods used by the selected local government entity in comparing the budget-to-actual reports Your analysis should include an evaluation of the basis of accounting used for the budget and financial statements

4Analyze the sources of revenue on the selected local government Your analysis should include information on both governmental and business-type activities of the government In your report, be sure to examine

aProperty taxes and how they are accounted for

bOther sources identified as primary revenue for the entity

cDeferred revenue

dYear-to-year variations in the tax levels of income

eVarious management discussion and analysis items of note

fInformation about the general fund

Your assignment must follow these formatting requirements:

•Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format Check with your professor for any additional instructions

•Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date The cover page and the reference page are not included in the required assignment page length

The specific course learning outcomes associated with this assignment are: Evaluate the financial reporting of state and local governments and assess the reporting requirements in accordance with governmental accounting standards board (GASB) Analyze governmental activities related to expenditures and expenses Use technology and information resources to research issues in government and not-for-profit accounting Write clearly and concisely about government and not-for-profit accounting using proper writing mechanics

"We Offer Paper Writing Services on all Disciplines, Make an Order Now and we will be Glad to Help"