Latest Questions & Answers

Q: Government Auditing Standards specifically outline an auditor’s responsibilities with respect to ethics

Government Auditing Standards specifically outline an auditor’s responsibilities with respect to ethics and independence. What are the ethical principles and primary considerations with regard to inde...

Q: In 2013, the Tampa Bay Times published a series of four

In 2013, the Tampa Bay Times published a series of four articles uncovering some of the worst charities in America. Read the articles ( www.tampabay.com/topics/specials/ worst-charities. page ) and...

Q: Should citizens be concerned if the funded ratio for pension plans decreases

Should citizens be concerned if the funded ratio for pension plans decreases over time? Why?

Q: When conducting a financial analysis, ratios based solely on governmental fund

When conducting a financial analysis, ratios based solely on governmental fund financial statements would not be considered sufficient for assessing economic condition. Explain why this statement woul...

Q: Explain the difference between a blended and discretely presented component unit,

Explain the difference between a blended and discretely presented component unit, and explain how each is reported.

Q: Under the hierarchy of GAAP, what sources of accounting principles have

Under the hierarchy of GAAP, what sources of accounting principles have the most authority for state and local governments, federal government entities, and nongovernmental entities? Where do accounta...

Q: The GASB indicates that economic condition is composed of three components.

The GASB indicates that economic condition is composed of three components. Identify and define the three components of economic condition.

Q: State and general purpose local governments are considered primary governments. Under

State and general purpose local governments are considered primary governments. Under what circumstances a special purpose government would be considered a primary government?  

Q: Under GASB guidance when should an item be recognized on the face

Under GASB guidance when should an item be recognized on the face of the financial statements? Under what conditions, would the GASB indicate that a note disclosure should accompany an item that has b...

Q: W hat are the two tracks in the dual-track accounting

W hat are the two tracks in the dual-track accounting system? Explain the purpose of each track. Relate each track to state and local governmental “dual track” accounting.