ACCY161Fa10_Notes19_Federal

ACCY161Fa10_Notes19_Federal - ACCY 161 Spring 2010 Federal...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
ACCY 161 – Spring 2010 Federal Government Accounting and Reporting ACCY161_Sp10_Notes17 Page 1 of 5 I. Class Notes 1. Exam #2 2. Class projects 3. Exam #3 and final exam II. Federal Government A. Workforce B. What the federal government does 1. National security and international affairs 2. Public safety and enforce federal laws and regulations 3. Provide services: National parks, veterans affairs, research 4. Redistribute resource for policy reason III. Financial Reporting for the Federal Government A. This is the web site for the Financial Management Service of the U.S. Department of the Treasury: http://www.fms.treas.gov/ B. This is the web site where you can get the financial statement for the U.S. http://www.fms.treas.gov/fr/index.html C. GAO Fiscal Wake-up Tour from the former Comptroller General of the Government Accountability 1 Office D. Federal government financial statements – in your binder 1. Large like State of California and CCSF ~ 170 pages 2. Has an MD&A and a focus on accountability and performance: Annual reports are called “Performance and Accountability Reports” 3. Note the text box with the types of auditor’s opinions 4. The reports are quite frank and clear in the content 5. It is not for want of a framework to operate –see page 18, and page 20 for discussion on improper payments 6. Where does the money go? – see page 35 7. So how is the federal government – our government – doing? - see page 36 8. What is the result of this – the “how are we doing point? - see page 39 9. Well, yeah, that is a good question – how can we pull this off – see pages 39 and 69 10. Let’s change the subject to something a little on the more pleasant side: a. Stewardship land – page 113 b. Stewardship investments – page 157 c. Heritage assets – page 113 1 The name was changed from “Accounting” to “Accountability” to reflect the more proactive nature of the work that was done.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
ACCY 161 – Spring 2010 Federal Government Accounting and Reporting ACCY161_Sp10_Notes17
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 5

ACCY161Fa10_Notes19_Federal - ACCY 161 Spring 2010 Federal...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online