question:
Summarize three key points from Note 1 – Summary of Significant Accounting Policies.
In terms of general revenues on the Statement of Activities, please list the largest three types of revenues and the dollar amounts of the associated revenues.Are the revenues are exchange revenues or non-exchange revenues?
What are the three largest asset line items and three largest liability line items reported on the Statement of Net Assets and what are the amounts associated with each?
What are the primary elements of the Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Assets – Governmental Activities Net Assets?
Name of Entity: __________________________________
Reporting Period:_________________________________
Requirement: Comments: Workpaper Reference:
a) Summarize three key points from Note 1 – Summary of Significant Accounting Policies.
b) In terms of general revenues on the Statement of Activities, please list the largest three types of revenues and the dollar amounts of the associated revenues. Are the revenues are exchange revenues or non-exchange revenues?
c) What are the three largest asset line items and three largest liability line items reported on the Statement of Net Assets and what are the amounts associated with each?
d) What are the primary elements of the Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Assets – Governmental Activities Net Assets?
e) Identify the amount of the Net Change in Fund Balance? Did it increase or reduce fund balance?
f) Please prepare horizontal and vertical analysis of the entity’s Balance Sheet and highlight any areas of significant change that might require explanation during an audit.
g) Where there any references to any questioned costs for Single Audit grant audit purposes?
h) From the statistical section of the CAFR, identify three specific key performance (operating or financial) metrics or statistics used to gauge performance of city services?
i) Identify a strength, weakness, threat, and opportunity for the organization that its leaders should consider in the future.