Financial reports tell the story of an organization within a fiscal year. Annual financial reports are extremely valuable to government organizations because they give both the administrators in the organization and the public who are funding the organization a sense of where revenue is going.
In this Discussion, you analyze an organization’s comprehensive annual financial report (CAFR) and explain its value to the organization.
Review Learning Resources and reflect on the responsibility of government organizations to provide accurate financial reports to the public. Then, select a public organization and a specific CAFR from the selected organization. Public organization budgets are required by law to be available. An Internet search will yield an annual budget for your specific organization.
With these thoughts in mind:
Write a brief description of the organization you selected. Then, provide an analysis of that organization’s CAFR. In your analysis, explain what the report tells the stakeholders of the organization and the value of the report to the organization.
Be sure to support your posting and responses with specific references to the Learning Resources while adhering to APA standard of referencing.
- Mikesell, J. L. (2014). Fiscal administration: Analysis and applications for the public sector (9th ed.). Boston, MA: Wadsworth.
- Chapter 2, “The Logic of the Budget Process” (pp. 38–83)
- Genito, M. (2013, February). Back to basics: An overview of governmental accounting and financial reporting. Retrieved from http://www.gfoa.org/sites/default/files/GFR_FEB_13_48.pdf
- Governmental Accounting Standards Board. (2014). Retrieved from http://www.gasb.org/
- Internet Center for Management and Business Administration, Inc. (2010). Double-entry bookkeeping. Retrieved from http://www.quickmba.com/accounting/fin/double-entry/