Audience: Golden Van Dyke is a new member of the City Council for the City of Andyville, AL. He is a business professional and has used Comprehensive Annual Financial Reports (CAFRs) in his previous positions. Golden has some knowledge of the governmental accounting processes and has asked you two questions in order to enhance his decision-making; (1) How does Andyville account for inter-fund transactions, and (2) How does Andyville account for property tax revenue recognition? Both questions relate to governmental funds.
Resources: Accounting for Government & Nonprofit Organizations: Chapter 2, 4, 5, 6. Examine the guidance, examples, and exercises provided to formulate a proper response to Golden’s inquires.
Analysis: We want to provide Mr. Van Dyke with the accounting for inter-fund transactions and property tax revenue recognition. Specifically, how they are recorded in the funds and how and where they are presented in the financial statements. You should create PowerPoint slides with a background on these topics, examples, journal entries, and other visual aids to help answer Mr. Van Dyke’s questions.
https://drive.google.com/file/d/1mFryiVUn8muwDQxXjqmEHeecYW39RAK4/view?usp=sharing
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