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Chapter 17 Analysis Case 2 response

Chapter 17 Analysis Case 2 response - year 2006-2007 The...

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RE: Chapter 17 Analysis Case 2 noted the use of GASB 34 for the MD &A for the City of Portland. The information that can be obtained from the MD & A. cited the use of government-wide financial statements and the fund-based financial statements. There is other information that can be obtain from the MD &A such as how the government raises revenues, long-term liabilities, budgetary process excreta. The MD & A that was provided by the City of Portland contains a multitude of information. There was the bonded debt that increased by $242,794,122 or 10.2% during fiscal
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Unformatted text preview: year 2006-2007 . The City of Portland during 2008 net assets attests to its financial position. The assets well exceeds liabilities by $2,601,750,443. The MD & A also includes information about the external restrictions on how the City of Portland can use its net assets resource. The inclusion of the MD & A in the governmental financial statements gives more information on how the financial position of governmental statements. It is holding an additional accountability to governmental offices that are using taxpayers’ money and federal money....
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