Business & Finance homework help

Category: Business & Finance


6.        Look at the Debt Service Fund information. Does the accounting appear to conform with GASB standards for Debt Service funds?  List any additional disclosures regarding general obligation debt service requirements. What additional information would be helpful in analyzing the debt service function of the entity?

7.        Attempt to look at the debt service expenditures from the viewpoint of a financial analyst. A Schedule of Debt Service Requirements to Maturity should appear in the notes to the financial statements. Do the future payments appear reasonable, considering the size of the community and revenues that are currently being raised?

8.        Do the notes describe the accounting policy for acquisitions of general fixed assets? Does the disclosure clearly indicate that depreciation expense is not recorded in governmental funds? Do the notes disclose the policy regarding reporting of infrastructure assets? Do you believe infrastructure should be capitalized? Why or why not? What other note disclosures are made regarding fixed assets?

9.        Does the report disclose the condition or age of general fixed assets? Can you tell the extent to which the governmental unit is replacing its fixed assets as needed? Is there any information given about the condition of general fixed assets, including infrastructure and replacement policies? What changes would you recommend in financial reporting to provide some of the information you might need? 

10.      Does the report you have disclose the rating of each debt issue? If so, are all issues rated the same? What are the ratings? Do you think the information presented in the report would help you decide if you would invest in additional tax-supported debt of the entity? Would you? What additional information would you like to have related to the debt of the entity?

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