Student name:_f# f#
1) Explain f#the f#essential f#differences f# between f#general f#purpose
f#and f#special f#purpose f # governments f#and f#give f#several f#examples f#of
f#each.
2) Identify f#and f#explain f#the f#characteristics f#that f#distinguish
f#governments f#and f#not-for-profit f # entities f# from f#business f#entities.
3) GASB f#and f#FASB f#standards f#are f#concerned f#only f#with f#external
f#financial f#reporting; f # whereas, f# FASAB f#standards f#are f#concerned f#with f#both
f#internal f#and f#external f#financial f#reporting. f# Do f # you f#agree f#with f#this
f# statement? f#Why f#or f# why f#not?
4) Why f#should f#persons f#interested f#in f#reading f#financial f#reports f#of
governments f#and f#not-for-
f# f # profit f#entities f#be f# familiar f# with f#standards
Version 1
f#1
, set f#by f#the f#GASB f#and f#the f#FASB?
f#
Version 2
f#1
,5) Explain f#in f#your f# own f#words f#why f#accountability f#is f#the
f#cornerstone f#of f#all f#financial f # reporting f# in f#government.
6) In f#your f#own f#words f#state f#the f#primary f#needs f#the f#GASB f#believes
f#external f#users f#have f#for f # financial f#reports f#of f#state f#and f# local
f#governments. f# For f#contrast, f#state f#the f#uses f#the f#FASB f# believes
f # external f#users f# have f# for f#the f# financial f#reports f#of f#not-for-profit
f# organizations.
7) Describe f#the f#difference f# between f#a f#comprehensive f#annual f#financial
f#report f# (CAFR) f# and f # GASB f#general f#purpose f#external f#financial
f#reporting f#for f# state f#and f# local f#governments.
Version 3
f#1
, 8) Identify f#and f#briefly f#explain f#the f# four f# sections f#of f#the f#performance
f#and f#accountability f#report f # (PAR) f# that f#the f#Office f#of f#Management f#and
f#Budget f#requires f# major f# federal f#departments f#and f # agencies f#to f# prepare.
Version 4
f#1
1) Explain f#the f#essential f#differences f# between f#general f#purpose
f#and f#special f#purpose f # governments f#and f#give f#several f#examples f#of
f#each.
2) Identify f#and f#explain f#the f#characteristics f#that f#distinguish
f#governments f#and f#not-for-profit f # entities f# from f#business f#entities.
3) GASB f#and f#FASB f#standards f#are f#concerned f#only f#with f#external
f#financial f#reporting; f # whereas, f# FASAB f#standards f#are f#concerned f#with f#both
f#internal f#and f#external f#financial f#reporting. f# Do f # you f#agree f#with f#this
f# statement? f#Why f#or f# why f#not?
4) Why f#should f#persons f#interested f#in f#reading f#financial f#reports f#of
governments f#and f#not-for-
f# f # profit f#entities f#be f# familiar f# with f#standards
Version 1
f#1
, set f#by f#the f#GASB f#and f#the f#FASB?
f#
Version 2
f#1
,5) Explain f#in f#your f# own f#words f#why f#accountability f#is f#the
f#cornerstone f#of f#all f#financial f # reporting f# in f#government.
6) In f#your f#own f#words f#state f#the f#primary f#needs f#the f#GASB f#believes
f#external f#users f#have f#for f # financial f#reports f#of f#state f#and f# local
f#governments. f# For f#contrast, f#state f#the f#uses f#the f#FASB f# believes
f # external f#users f# have f# for f#the f# financial f#reports f#of f#not-for-profit
f# organizations.
7) Describe f#the f#difference f# between f#a f#comprehensive f#annual f#financial
f#report f# (CAFR) f# and f # GASB f#general f#purpose f#external f#financial
f#reporting f#for f# state f#and f# local f#governments.
Version 3
f#1
, 8) Identify f#and f#briefly f#explain f#the f# four f# sections f#of f#the f#performance
f#and f#accountability f#report f # (PAR) f# that f#the f#Office f#of f#Management f#and
f#Budget f#requires f# major f# federal f#departments f#and f # agencies f#to f# prepare.
Version 4
f#1
