ACC 407 Homework Assignment Exploring a the Mississippi CAFR Chapter 2 1.GASB standards require that a CAFR include a table of contents. Find the table of contents in the Mississippi CAFR. The report should be divided into three sections. List below the three sections of the Mississippi CAFR.2.What items did the state of Mississippi include in the first section of the CAFR?3.The only required item in the first section is the Letter of Transmittal. The following three items should be included in a letter of transmittal:a.Legal requirements for presentation of a CAFRb.Statement of the fact that the CAFR is management's responsibilityc.The Audit ResultsFind the portion of the CAFR where the State of Mississippi complies with these requirements. Give the relevant sentence sentences below.4.The letter of transmittal mentions some of the services provided by the state of Mississippi to its citizens. Give the services listed.
5.What is the economic outlook for the state as given in the CAFR?6.Describe the operations of the Working Cash Stabilization Reserve Account (hint: Look at Note 2 of the financial statements).7.How many consecutive years have the state of Mississippi won an award for its CAFR?8.In what section of the CAFR is the Audit Report found?9.What financial statements did the state audit department not audit (give the first three and then just look over the list?
10.Who audited these other statements?11.The audit was conducted in accordance what standards?12.What sections of the CAFR were not subject to any auditing procedures?13.In your textbook find the minimum requirements for the Management's Discussion and Analysis section. Try and locate the eight items in the Mississippi CAFR. Which required items are not included in the Mississippi CAFR?14.Basic Financial Statements in a CAFR can be divided into two groups - Government-wide Financial Statements and Individual Fund Statement of major funds. List the Government-wide Financial Statements included in the Mississippi CAFR.
You've reached the end of your free preview.
Want to read all 9 pages?
- Spring '13
- Income Statement, Generally Accepted Accounting Principles, Mississippi, CAFR, Mississippi CAFR