1. How is a private purpose trust fund different from a permanent fund? 2. What typically are the main adjustments relating to capital assets and long-term obligations required to convert the government funds statement of revenues and expenditures to the government-wide statement of activities? 3. How does discrete presentation differ from blending? When is each appropriate? 4. Suppose that you are the independent auditor for a local performing arts association (either government or not-for-profit) that recently received a sizable endowment. The association's president has asked whether gains, both realized and unrealized, from the appreciation of endowment investments should be accounted for as expendable or nonexpendable resources. What should be the primary factors that determine your response? How should GASB or FASB pronouncements influence your recommendation? 5. The Comprehensive Annual Financial Report (CAFR). We know that the three main sections of the Comprehensive Annual Financial Report are: ¡ the introductory section ¡ the financial section ¡ the statistical section What are the main components of the financial section?
ACC 548 Week 4 Pensions
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