SDEV 460 Accounting for Fiduciary Activities

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SDEV 460 Accounting for Fiduciary Activities

Exercise 4-15: Examine the CAFR Complete the following in Exercise

Download a copy of the most recent Comprehensive Annual Financial Report (CAFR) for a city of your choice. and send copy of the CAFR that was used

Note: many cities with 25,000 or more population provide Internet access to their CAFRs to answer.

  • Governmental Activities, Government-wide Level. Answer the following questions. (1) Are governmental activities reported in a separate column from business-type activities in the two government-wide financial statements?
  • General Fund.. (1) What statements and schedules pertaining to the General Fund are presented?
  • Special Revenue Funds. (1) What statements and schedules pertaining to the special revenue funds are presented?

Ch. 8 Questions Assignment

Complete the following questions in Ch. 8 in in 90 to 175 words each:

8-1 Explain the distinction(s) between agency funds and trust funds. What financial statements are prepared for each?

8-2 Identify the different types of trust funds and explain the purpose of each type.

8-3 Describe the basic activities conducted by a tax agency fund. What are some of the issues that make tax agency fund accounting complex?