The Comprehensive Annual Financial Report (CAFR) is a political units comprehensive score make-up that shows the pecuniary position and the performance in operation. In the Howard County CAFR, it has 170 pages and provides exact statements and wealth statistical data on its jurisdiction. This paper would analyze the Howard County CAFR introduction and would provide comments on the MD&A, summary of material accounting policies, the government-wide statement versus to the governmental fund statement, and the proposed changes that would enhance accounting for the CAFR.
security measures of Achievement for Excellence in Financial Reporting
The Howard County certain the award of a Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association (GFOA) for the financial year ended June 30, 2007. This certificate is to award the United States and Canada governmental units which comply with or go beyond the minimum requirements of the more often than not accepted accounting principle and applicable legal standards in the CAFR preparation. The program is to promote the high quality of financial account in the public sector (GFOA, n.d.).
Since a certificate is effectual for one year period, the governmental units have to submit their report to GFOA every fiscal year in order to deliver the goods a new certificate. The Howard County demonstrated the fairness and appropriation of the CAFR presentation which reflects its accountability to the public. This is the thirty-second consecutive year that the Howard County received this prestigious award, and they believe that their fiscal year 2008 CAFR would continually meet the Certificate of Achievement programs requirements and would be eligible to procure another certificate.
Management Discussion & Analysis
Howard County highlighted its financial position in the managements discussion and analysis section. First, it mentioned about the flows of the assets and the debts in...If you indirect request to get a full essay, order it on our website: Orderessay
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