Please include question and reference, 5-7 lines per question.

 

Go to the Government Finance Officers Association (GFOA) Website to read the best practice article “Capital Project Monitoring and Reporting,” located at http://www.gfoa.org/capital-project-monitoring-and-reporting.

 

?Analyze the important aspects of accounting and reporting of governmental capital projects highlighted in the article. Expand your analysis to consider how monitoring and reporting of capital projects is similar and how it differs from the same functions in a corporation.

 

In Chapter 9, we learn that business-type activities of governments are accounted for in a fashion similar to those carried out by businesses. It is easy to understand that accounting for these services is done on a full accrual basis of accounting; however, give your opinion on the way in which this integrates with the modified basis of accounting used by governmental funds. Use the textbook and GASB materials to support your position.

 

?Analyze the various types of business-type funds used in governmental units, and provide an example of when each is appropriate. In developing your initial discussion post and in commenting on your classmates’ responses, consider the continuing problem (the City of Austin, Texas) or perhaps from published material from your home state or city.

 

 

 

Go the FASAB Website, located at www.FASAB.gov. Navigate to the “Our Mission” section under the “About” tab, the minutes of recent meetings from the “Board Activities” tab, and the current “Standards” section to prepare to discuss the following topics:

 

?Describe the make-up and selection process of the Board that disseminates federal accounting standards.

 

?Separate accounting standards exist for the U.S. Federal Government in contrast to state and local governments; discuss why this is necessary.

 

?Identify the government agency responsible for compiling the U.S. Federal Government financial reports and the agency responsible for auditing the reports