Analysis Of The City And County Of Denver

5) No they did not comply with GAAS because the independent auditor had conflicts of interest. Two of the three partners of the firm that performed the audit for the district had 55% ownership in the company that sold the district its financial management software “finance manager”. The partners’ role as vendors violated the general standard of independence under generally accepted government auditing standards. Also the auditors received a commission from the sale of another software called “student manager” and receiving commissions is prohibited by the AICPA.

Professional auditing standards identify 5 “management assertions” that commonly underlie a set of financial statements. These 5 assertions are: occurrence, completeness, valuation/allocation, rights/obligations, and presentation/disclosure. With respect to the audit of Paragon’s construction project, some of these key assertions were overlooked by auditor Arthur Anderson. The main assertions that Anderson should have focused on for this audit include occurrence, valuation, and disclosure.

During Hydromaint's audit, you and Pam had a number of discussions. You, Pam, and Mike Johnson are generally satisfied that the accounts are in accordance with GAAP and are supported by underlying facts. Pam tested Jerry's pension accounting (which she found to be correct) by preparing a pension worksheet based on data contained in the actuary's report:

The State of Colorado achieved its statehood in 1876. In its beginning, it was predominantly a mining and agriculture state. People came from all over the world to settle in the state, the most popular settlements were in Denver all the way south to Colorado Springs. General William Jackson Palmer, a member of the City’s museum commission, founded the city of Colorado Springs in 1871. During the westward expansion, pioneers in their covered wagons moved to the region in search for gold, good health, and prosperity in the mineral rich Rocky Mountains. They settled and built farms, ranches, and small businesses. One of those Pioneers was Thomas Maclaren, a prolific designer, whose work will become extremely popular in the Colorado Springs, Downtown

I currently reside in Denver County, Colorado. I have chosen to assess and analyze this community for this assignment. Denver, Colorado is located east of the Eastern Foothills of the Rocky Mountains. Denver County is centrally located within the city of Denver, Colorado and includes the Denver International Airport located north-east of the city. The elevation of this county is 5,277 feet and therefore is nicknamed the “Mile-High City”. Denver County contains 154.9 square miles of land with a large amount of parks and rivers, of which 1.4 miles is water. (City and County of Denver, 2011).

The first city selected for this report is found just north west of the capital of Colorado. The city of Arvada, was founded in 1870 and incorporated in 1904. A brief history and statistic on the city of Arvada is that the city has grown in population size tremendously. Arvada has boomed in population size in recent years, for example according to the U.S Census Bureau the total

Smackey Dog’s bank is requesting audited financial statements to meet loan requirements and Generally Accepted Accounting Practices (GAAP). It is in Smackey Dog’s best interest, despite the fact that they are private, to obtain audited financials as referenced next “private companies that wish to obtain equity capital infusions beyond a closely held base must forego this option, because outside investors are unlikely to invest without the level of assurance that an audit brings” (O’Hara, Paragraph 10).

Revenues: Property Taxes $643,500.00 Licenses and Permits $164,000.00 Federal Grant $94,000.00 Fines and Penalties $43,000.00 Total Revenues $944,500.00 Expenditures: Public Safety $393,600.00 General Government $258,200.00 Public Works $99,400.00 Parks and Recreation $97,500.00 Total Expenditures $848,700.00 Excess of Revenues Over Expenditures $95,800.00 Other financing Uses-Transfer Out to Debt Service Fund

One thing you can learn from the financial statements is how many legally separate entities the State of California is financially accountable for. The governmental accounting term for these entities is called component units, and when they are presented separately from the primary governmental funds, they are discretely presented as if they are a separate fund of the primary government. Component units that are not discretely

activities? Which function or program has the highest net cost? What kinds of general revenues are available to cover the net cost of governmental activities?

A review and an audit report are both a form of an attestation engagement. A Review, however, is less in scope so it provides a moderate level of assurance on the financial statements. It is considered a “sniff” of an audit, which comparatively provides reasonable assurance that no material misstatements occurred. Since a review deals with a limited scope, it does not provide the basis for expressing an opinion on the presentation of the

In regards to the city of Dallas, we have a population demographic projection of “4,722,317” people as of 2015, and that has risen to “4,830,544” as of 2016 (Texas Department of Health Services, 2014). So, at times the city of Dallas can be a little crowded. Nevertheless, the city of Dallas much like any metropolitan area has a major concern revolving around urban sprawling, as the nearest grocery store (like Walmart) is about 15 (+) mins away from my current residence. In addition, community centers for kids and adults are drastically lacking here, but the concerns around road development and expanding the housing community are pressing forward with no apprehension. These issues that I have listed opens my community to problems like gangs, drinking and driving, assault.

During the performance of this integrated audit, require numerous judgments about the internal control and overall financial reporting and how well it addresses risks of material misstatements within the financial statements (AICPA, 2014). After re-evaluating the previous errors found from the previous audit, the audit team found the corrective actions to be appropriate and justified in elimination of human error by implementing additional checks and balances within the manual process. No additional misstatements have been found and all internal controls off the financial reporting seem appropriate and just.

case in point is the Clark County School District, Las Vegas, Nevada which has a central kitchen that does not meet the demands of the district. Due to this they started a “Dish Up” program where high schools produce for their needs and for the needs of elementary schools in the district.Food production is thereby centralized at a central kitchen and at regional kitchens. This combination affords them efficiencies in labour and the capacity to satisfy the needs of the school district. (National food Service Management Institute, 2002).

Financial statements mainly include profit and loss account and balance sheet. Profit and loss account lists out all the expenses made by the firm and revenue earned over a period of time. Balance sheet depicts the financial position of the firm at a particular point of time. While fund flow statement is complimentary to both balance sheet and profit and loss account, it brings a clear idea about