In this assignment, you will demonstrate your mastery of the following course outcomes:
● Analyze governmental and nonprofit accounting procedures used for the preparation of financial statements to promote accountability in financial reporting and inform decision making
● Prepare journal entries, financial statements, and supporting documentation that impact reporting for nonprofit and governmental entities using appropriate accounting standards
● Evaluate governmental and nonprofit accounting statements in determining the fiscal position of various entities using appropriate tools of the discipline
● Select accounting methods appropriate to the differentiated needs of governmental and nonprofit organizations
● Determine appropriate strategies for effectively communicating the differences between private sector, governmental, and nonprofit reporting to stakeholders
Prompt You are the accountant for a local government. Your job requires that you analyze
transactions, post to ledgers, and prepare financial statements. Using the Final Project One Case Study document and the Final Project One Student Workbook spreadsheet provided, you will prepare an accounting workbook, which includes supporting journals for governmental funds, proprietary funds, and fiduciary funds. The supporting journals will be used in preparation of the fund’ s financial statements. You will then perform a reconciliation to prepare the government-wide financial statements for governmental activities and business activities. Finally, you will prepare a five- to seven-page informational report explaining the different funds to a taxpayer group interested in understanding the purpose of the funds.