Government Financial Reporting:
Submit your responses to the following questions in a 1-2 page summary MSWord document. Label each question clearly. For computations done in an Excel spreadsheet, please copy and paste your work into your MSWord document. For written answers, please make sure your responses are well written, use APA formatting, and have the proper citation, if needed.
1. A city manager was overheard saying, “Since we don’t release them to the public, I don’t see any value in taking the time to prepare interim reports.” Explain why you agree or disagree with this statement.
2. Describe how a taxpayer might assess the financial solvency and viability of a government using government-wide financial statements prepared according to generally accepted accounting principles.