John’s University The Peter J. Tobin College of Business Department of Accounting and Taxation ACC 639 Summer 2017 Governmental and Not-For-Profit…
John's College The Peter J. Tobin School of Enterprise Division of Accounting and Taxation ACC 639 Summer time 2017 Governmental and Not-For-Revenue... Hello,I used to be questioning in case you might please assist me with my CAFR challenge,I've been assigned the state of Virginia.Please discover the hooked up task.Its Pressing please. ATTACHMENT PREVIEW Obtain attachment 1 St. John’s College The Peter J. Tobin School of Enterprise Division of Accounting and Taxation ACC 639 Summer time 2017 Governmental and Not-For-Revenue Accounting Professor: Dr. Benjamin R. Silliman, C.P.A. Complete Annual Monetary Report (CAFR) Challenge Title : _____________________________________________________________ State Assigned : _____________ For this CAFR Challenge, you've been assigned one (1) state authorities in the USA. Obtain your state’s Complete Annual Monetary Report (CAFR) for the newest fiscal yr (2016). The function of this challenge is to immerse you right into a set of economic statements of a state so that you could see the assorted elements that we've got been finding out and analyzing on this course. Please take into account, this challenge is partly a scavenger hunt; the opposite half is to interpret and supply in-depth responses to the questions. The outcomes have to be neatly introduced and typed in Phrase, with every merchandise numbered and labeled (i.e., 2b., 3a., and many others. ). Any challenge that's ready with restricted responses or not neatly introduced will lose factors. Challenge Due Date : June 29, 2017. Your accomplished challenge have to be uploaded to Blackboard within the Task part as a single pdf doc. For those who should submit your task after the due date, please electronic mail the professor. Directions : a. In answering every query, you should definitely insert your responses instantly beneath the indicated questions (do not merely quantity every query and put in a response). b. For every query the place you might be requested to find or determine an merchandise(s) within the CAFR, you should definitely present the precise web page quantity(s) printed on the CAFR (not the PDF web page numbers). c. Neatness in your write-up, readability in your responses, and preciseness are essential within the grade willpower. For instance, in case you are requested to offer greenback quantities, point out: $2,575,325 (no cents or 2575325 as a response). d. For those who can't find a component within the query, don't depart the query clean and don't write “N/A”. For instance, if the state you might be analyzing doesn't acknowledge business-type actions, you would write, “The (point out state) 2016 CAFR doesn't individually acknowledge business-type actions and it's not mirrored within the Assertion of Actions or Assertion of Internet Place.” You'll additionally present the web page numbers to the 2 aforementioned monetary statements. e. Don't connect any CAFR supplies to your outcomes. Your accomplished challenge have to be submitted by means of Bb within the Task part. Initiatives despatched to me through electronic mail won't be graded. Comply with all challenge and presentation directions fastidiously to maximise your level potential. Obtain the newest (2016) state CAFR (not the state’s pension CAFR) and use it to reply to the following objects: 1. Determine the state you might be analyzing and supply the actual URL of the net web page from which you downloaded the CAFR (copy-and-paste the URL, don't kind; then take a look at the URL to make certain it opens accurately). What's the most up-to-date fiscal yr (and point out the final date of the fiscal yr)? Additionally View the Reply point out the date the CAFR was printed and the identify of the Chief Govt Officer of the state (the governor). 2. Within the Introductory Part, there's a Letter of Transmittal . Briefly clarify in your individual phrases the function of the Letter of Transmittal and determine and clarify the next: a. What's the date on the letter? b. To whom is the Letter addressed? c. From whom is the Letter written (additionally determine the workplace on the letterhead the place the letter was written)? d. What are among the highlights that have been talked about for the newest fiscal yr? The highlights have to be expressed in your individual phrases. Don't copy and paste textual content from the CAFR. e. Was the state organizational authorities chart offered? Briefly clarify how the state is organized (administration with companies, legislative, and judiciary). f. Have been there any part items? In that case, what number of? g. Does the Letter comprise any dialogue on the price range and appropriations? Briefly clarify in a paragraph the state’s budgetary insurance policies (together with appropriations). h. Who signed the letter? three. Within the state’s Monetary Part , there's an auditor’s report. Briefly clarify the aim of the auditor’s report and in addition determine and clarify the next: a. What's the date on the letter? b. Given the final date of the fiscal yr, precisely what number of days had handed till the dated audit report letter? c. To whom is the auditor’s report addressed? d. From whom is the auditor’s report written (additionally determine the workplace on the letterhead the place the report was written)? e. Was the audit carried out by an impartial audit agency? If not, what group carried out the audit? f. Often within the second paragraph of the auditor’s report, the phrase “We performed our audits in accordance with . . .” What's the auditor referring to? g. Is there anyplace on the auditor’s report that refers to Typically Accepted Accounting Rules? What paragraph is that this and why is it included in that paragraph? h. Within the Administration’s Dialogue and Evaluation (MD&A) part, there's a part that discusses the Authorities-wide Monetary Evaluation. Briefly clarify in your individual phrases some vital outcomes which can be highlighted on the Assertion of Internet Place and Assertion of Actions that occurred in the course of the present fiscal yr. 2 Present whole doc