ACCT GOV.+NFP ENTITIES LOOSELEAF W/CONN.
ACCT GOV.+NFP ENTITIES LOOSELEAF W/CONN.
18th Edition
ISBN: 9781260949766
Author: RECK
Publisher: MCG
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Chapter 7, Problem 12C

Internal Service Fund Reporting. (LO7-2) Financial statements for the Building Maintenance Fund, an internal service fund of Coastal City, are reproduced here. No further information about the nature or purposes of this fund is given in the annual report.

Chapter 7, Problem 12C, Internal Service Fund Reporting. (LO7-2) Financial statements for the Building Maintenance Fund, an , example  1

Chapter 7, Problem 12C, Internal Service Fund Reporting. (LO7-2) Financial statements for the Building Maintenance Fund, an , example  2

Required

  1. a.      Assuming that the Building Maintenance Fund is an internal service fund, discuss whether the financial information is presented in accordance with GASB standards.
  2. b.      If you were the manager of a city department that uses the services of the Building Maintenance Fund, what would you want to know in addition to the information disclosed in the financial statements?
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ACCT GOV.+NFP ENTITIES LOOSELEAF W/CONN.

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