tailieunhanh - Lecture Accounting for Governmental & Nonprofit Entities (16/e): Chapter 10 - Jacqueline L. Reck, Suzanne L. Lowensohn

Chapter 10 - Analysis of governmental financial performance. After studying Chapter 10, you should be able to: Explain the importance of evaluating governmental financial performance, distinguish among and describe key financial performance concepts, identify and describe the contents of a comprehensive annual financial report (CAFR),. | Accounting for Governmental & Nonprofit Entities JACQUELINE L. RECK SUZANNE L. LOWENSOHN 17/e Copyright © 2016 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 1 Analysis of Governmental Financial Performance C H A P T E R 10 2 Learning Objectives 10-1 Explain the importance of evaluating governmental financial performance. 10-2 Distinguish among and describe key financial performance concepts, such as: financial position, financial condition, and economic condition. 10-3 Explain the relationships among environmental factors, organizational factors, and financial factors in determining governmental financial condition. 3 1 Learning Objectives 10-4 Identify, calculate, interpret and analyze key ratios that measure financial performance. 10-5 Describe how benchmarks can aid financial analysis and identify possible sources of government information that can be helpful when benchmarking. 4 2 Government | Accounting for Governmental & Nonprofit Entities JACQUELINE L. RECK SUZANNE L. LOWENSOHN 17/e Copyright © 2016 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 1 Analysis of Governmental Financial Performance C H A P T E R 10 2 Learning Objectives 10-1 Explain the importance of evaluating governmental financial performance. 10-2 Distinguish among and describe key financial performance concepts, such as: financial position, financial condition, and economic condition. 10-3 Explain the relationships among environmental factors, organizational factors, and financial factors in determining governmental financial condition. 3 1 Learning Objectives 10-4 Identify, calculate, interpret and analyze key ratios that measure financial performance. 10-5 Describe how benchmarks can aid financial analysis and identify possible sources of government information that can be helpful when benchmarking. 4 2 Government Financial Reporting and Transparency Governmental financial reporting has been perceived as lacking financial transparency. For our purposes, financial transparency means all relevant financial information is fully and freely available to users. Financial transparency is important for those outside government who need to assess government performance as they decide whether to locate in a city, work for public entities, or invest in municipal bonds. What you should know about your local government’s finances --GASB Government Financial Performance Concepts An Analyst’s Guide to Governmental Financial Statements --GASB Accountability Tools Economic Condition Financial Trend Monitoring System The financial trend monitoring system (FTMS) was developed by the International City/County Management Association (ICMA) It is designed for managers to use as a tool to track financial performance of governments FTMS identifies three groups of factors that impact financial performance: Environmental