ACCY161_Sp11_Notes15

ACCY161_Sp11_Notes15 - ACCY 161 Spring 2011 Chapter 9...

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ACCY 161 – Spring 2011 Chapter 9 – Financial Reporting for State and Local Governments Much of this is a re-visit of Chapters One thru Four ACCY161_Sp11_Notes15 Page 1 of 2 I. Class Notes 1. Exam #2 2. Can go over Exam #1 for review as of Saturday – can take it up to three times. II. State of California Financial Statements A. Audited by the Bureau of State Audits – General purpose statements only B. Prepared by the State Controller’s Office – CAFR C. Audit-committee-like oversight by the legislature and the Department of Finance III. Minimum Requirements for a General Purpose Financial Statements (see pages 8-9) A. Management’s Discussion and Analysis (MD&A) – similar to an SEC Form 10-K B. Basic Financial Statements and Accompanying Footnotes 1. Government-wide financial statements 2. Fund financial statements 3. Notes to financial statements C. Required Supplementary Information (other than the MD&A) D. Components units – see page 357 in text 1. Blended 2. Discreet presentation IV. Minimum Requirements for a Comprehensive Annual Financial Report (CAFR) A. Introductory Section
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ACCY161_Sp11_Notes15 - ACCY 161 Spring 2011 Chapter 9...

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