CITY Of ATLANTA

Government and Not-for-Profit Accounting



Government and Not-for-Profit Accounting

Introduction

The study is related to City of Atlanta which is based on the financial performance of 2010 Comprehensive Annual Financial Report; in particular, the study analyzes the 2010 CAFR of City of Atlanta.

Government-wide Statements

The total assets amounts for governmental activities are $ 1,871,778. Moreover, for business type activities that include construction amounts $ 267659, transportation equipment amounts $ 1224945, land $ 553327 and Rail System and Buildings amounts $ 3,180,486 etc. From the 2010 Comprehensive Annual Financial Report, it can be observed that the pension program for the people of city has the highest net cost. Moreover, the sales tax generated the highest revenue for the city. Furthermore, the general revenues to cover the net cost of government activities include the derivative and financial instruments, interest rate swap agreements etc. The business type activities that include the pension program is not profitable for the city; however, it is important for the Atlanta city to have pension programs for the people as it is the responsibility of the city.

General Fund

The report of Atlanta city state the basis of accounting for the General Fund; as accounting is a technique that deals with record, classify and summarize the operations of a business trading in order to interpret the results. Consequently, managers or directors through accounting may draw on the action to continue their businesses through data and statistical accounting. These data provide insight into the stability and solvency of the company, current receipts and payments, trends in sales, costs and expenses General and others. So you may know the company's financial capacity. The accounting is a technique that deals with record, classify and summarize the operations of a business trading in order to interpret the results (Aggarwal, 1996, 12-36). Consequently, managers or directors through accounting may draw on the action to continue their businesses through data and statistical accounting. These data in the report of Atlanta City provide insight into the stability and solvency of the Atlanta City, current receipts and payments, trends in sales, costs and expenses General and others. So you can know the financial ability of the company. It is also said that accounting is the language of business but there is no universally accepted definition (Andrews, 1994, 193-218). The accounting report of Atlanta City is responsible for analyzing and evaluating economic outcomes. Group and compare results, planning and synthesizing procedures and monitoring compliance of schedule.

The basis of accounting for the General Fund is the organizational unit of Atlanta City that creates records. The concepts of accounting and bookkeeping are used colloquially often used interchangeably (Andrews and Willett, 1997, 479-511). In economics, the term accounting only the methodology or activity. Depending on the size and type of organization it may be useful to divide the accounting into sub-areas. The financial accounting transactions posted to the accounting and profit and loss account are necessary.

- The Accounts Receivable handles the demands of customers.

- The Accounts Payable processes the liabilities to ...