American InterContinental University Comprehensive Annual Financial Texas Report

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• Post an original and thoughtful Main Post to the DB prompt.
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• Two additional responses are required after Friday of each week.
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More on DBs

At the end of each unit, DB participation is assessed based on level of engagement and the quality of the contribution to the discussion. DBs allow learners to learn through sharing ideas and experiences as they relate to course content. Because it is not possible to engage in two-way dialogue after a conversation has ended, no posts to the DB are accepted after the end of the unit. Learners must demonstrate an appropriate depth of understanding of course content to receive credit for having submitted substantive posts. Typically, this is achieved with 3–4 strong paragraphs for Main Posts and 2–3 strong paragraphs for Response Posts.

Obtain a copy of a Comprehensive Annual Financial Report (CAFR) for a state or local government for which you would have an interest. Answer the following questions regarding that report:

• What information is included?
• Is there any information that you find particularly interesting or unique to this entity?
• What do you consider to be the most useful statistical information, and why?
• Overall, do you feel that this section allows you to better understand the financial status of the governmental entity, or do you feel the information is marginal and should be eliminated?

UNIT 4: NOT-FOR-PROFIT AND GOVERNMENTAL STATEMENTS

Wed 6/23/2021 5:24 AMAll Actions

Unit 4: Not-for-profit and Governmental Statements

1. GASB Stmt. No, 34
   1. Content and presentation of government-wide financial statements
   2. Major fund statement format
   3. Fund based financial statements
   4. Required supplemental information
2. Comprehensive Annual Financial Report (CAFR)
3. Not-for-profit financial statement standards SFAS 116 & 117
4. Fund structures and reporting for colleges, universities, and other not-for-profit entities
5. Ethical implications of governmental and not-for-profit financial reporting

With this said:

Obtain a copy of a Comprehensive Annual Financial Report (CAFR) for a state or local government for which you would have an interest. Answer the following questions regarding that report:

• What information is included?
• Is there any information that you find particularly interesting or unique to this entity?
• What do you consider to be the most useful statistical information, and why?
• Overall, do you feel that this section allows you to better understand the financial status of the governmental entity, or do you feel the information is marginal and should be eliminated? 

A Comprehensive Annual Financial Report, CAFR, is a set of financial statements that gives an array of information on a government’s finances and the comparison of financial data, revenue and expenditure, projected in the budget (Sangha, 2018). There are three main sections in the Comprehensive Annual Financial Report, which are introduction, financial section, and statistical section (Fauquier County Virginia CAFR, 2019). The third section is the statistical section. It is the most essential because it summarizes financial trends, revenue capacity, debt capacity, demographic information and other operating information (Fauquier County Virginia CAFR, 2019). This section allowed myself to better understand the entity financial status. The trend information helps an individual understand how a government entity financial performance and fiscal health have change over the years (Sangha, 2018). The debt capacity schedule shows the government’s current local levels of outstanding debt and a state ability to issue additional debt in the long term (Sangha, 2018). The revenue capacity schedule has information of the government’s local entity major revenue sources, such are property tax, retail sales tax, business and occupation tax (Sangha, 2018). Demographic schedules show demographics and economic indicators in which a local government entity’s financial activity has taken place (Sangha, 2018). Last, operating information schedule shows the operating data which narrate the services it provides and the activities it performs (Sangha, 2018).

References:

Fauquier County Virginia Comprehensive Annual Report. (2019).

https://www.fauquiercounty.gov

Sangha, J. (December 12, 2018). Understanding the Comprehensive Annual Financial Report(CATRs) to Make Your Investment Decisions. com/education/understanding-the-comprehensive-annual-financial-reports-cafrs” title=”https://www.municipalbonds.com/education/understanding-the-comprehensive-annual-financial-reports-cafrs”>https://www.municipalbonds.com/education/understanding-the-comprehensive-annual-financial-reports-cafrs