Download or read book Understanding the Primary Components of the Annual Financial Report of the United States Government Scholar s Choice Edition written by United States Government Accountability and published by Scholar's Choice. This book was released on 2015-02-14 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work. This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Download or read book Understanding the Primary Components of the Annual Financial Report of the United States Covernment written by United States Government Accountability and published by CreateSpace. This book was released on 2015-05-07 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: The U.S. government is the largest, most diverse, most complex, and arguably the most important entity on earth today. Useful, timely, and reliable financial and performance information is needed to make sound decisions on the current results and future direction of vital federal programs and policies. The Department of the Treasury (Treasury), in coordination with the Office of Management and Budget, annually prepares the Financial Report of the United States Government, hereafter referred to as the Consolidated Financial Report (CFR). The CFR is a general-purpose report of accountability intended internally for members of Congress, federal executives and federal program managers, and externally primarily for citizens and citizen intermediaries who are interested in and have a reasonable understanding of federal government activities and are willing to study the information with reasonable diligence. Citizen intermediaries include members of the news media, analysts, and others who analyze and interpret, for the general public, the more complex and detailed information in the CFR. The goal of the CFR, and the subject of this guide, is to make available to every American a comprehensive overview of the federal government's finances. As described in the CFR, significant issues regarding the reliability and presentation of the federal government's financial information still need to be addressed. For example, several long-standing material weaknesses and other scope limitations have prevented GAO from being able to express any opinion on the federal government's consolidated financial statements, except for the Statement of Social Insurance. GAO expressed an unqualified opinion on the fiscal year 2008 and 2007 Statements of Social Insurance. Also, additional transparency is needed in connection with intragovernmental debt and the large and growing intergenerational burden associated with the federal government's projected growth in costs and debt. At the same time, in its current form, the CFR offers certain valuable insights into the overall financial operations, condition, and financial outlook of the federal government. GAO prepared this guide to the CFR to help those who seek to gain a baseline understanding of the significant information provided in the primary components that make up the CFR, especially the financial statements. This guide explains the purpose of each CFR component and provides illustrative financial information using actual fiscal year 2008 and 2007 data to focus readers on the kinds of significant information found in the various parts of the CFR. Because the illustrative financial information contained in this guide minimizes detail in order to highlight significant line items, it does not show or explain all of the items included in the federal government's actual CFR. This guide is not intended to help people who are interested in understanding the components of the financial statements of individual federal agencies as their form or content may vary from that of the CFR. Because this guide uses illustrative examples from the fiscal year 2008 CFR, significant financial transactions related to recent government actions to address the economic crisis that occurred in fiscal year 2009, such as the American Recovery and Reinvestment Act, are not included in this guide.
Download or read book Federal Financial Reporting written by Denise Mahoney and published by Nova Science Publishers. This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Federal financial reporting, defined here as the process of recording retrospective executive department-level financial and performance information, can provide both a snapshot of the governments financial health at a given moment in time, as well as an accounting of its financial performance over a particular time frame. This book provides an overview of federal financial reporting; an understanding for the primary components of the annual financial report of the United States government; a citizen's guide to the 2012 financial report of the United States government; and provides an management report on improvements needed in controls over the preparation of the United States consolidated financial statements.
Download or read book Financial Report of the United States written by Thomas Nelson and published by Thomas Nelson. This book was released on 2006-08-13 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Think of the federal government as a gigantic insurance company (with a side line business in national defense and homeland security) which only does its accounting on a cash basis-only counting premiums and payouts as they go in and out the door. An insurance company with cash accounting is not an insurance company at all. It is an accident waiting to happen." Peter R. Fisher, former Bush Administration Undersecretary of the Treasury "Our objective in preparing the fiscal year 2005 Financial Report of the U.S. Government is to give Congress and the American people a timely and useful report on the cost of the Federal Government's operations." John W. Snow, former Bush Administration Secretary of the Treasury "Scoring the budget on an accrual basis-the private sector norm and, I believe, a sensible direction for federal budget accounting-would better underscore the tradeoffs we face. Under accrual accounting, benefits would be counted as they are earned by workers rather than when they are paid out by the government." Alan Greenspan, former Chairman of the Federal Reserve Board "The significance of these accrual-based reports is that they show the implications of current budgetary decisions over a longer time horizon…. This information is therefore an important element of the debate about the real effects of governmental commitments." Paul H. O'Neill, former Bush Administration Secretary of the Treasury "[A] practical management tool for policy-makers and a source of useful information for the public about the assets, liabilities, and operations of the government." Lawrence H. Summers, former Clinton Administration Secretary of the Treasury "We believe that the publication of this financial report is an important step in providing the American public with useful information about their government's assets, liabilities and operations." Robert E. Rubin, former Clinton Administration Secretary of the Treasury In December 2005, the White House published its Financial Report of the United States Government-only 2000 copies were printed despite the purpose of the report being to explain the country's financial wellbeing to Congress and the American people. Now, for the first time, that report is widely published so the American people can see what's really going on with the nation's finances.
Download or read book Financial Report of the United States Government written by and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Accounting for Local and State School Systems written by and published by . This book was released on 1981 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Objectives of Federal Financial Reporting written by United States. Office of Management and Budget and published by . This book was released on 1993 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Federal Reserve System Purposes and Functions written by Board of Governors of the Federal Reserve System and published by . This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.
Download or read book Elements of Accounting and Financial Reporting in the Federal Government written by United States Accounting Office (GAO) and published by Createspace Independent Publishing Platform. This book was released on 2018-06-05 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: Elements of Accounting and Financial Reporting in the Federal Government
Download or read book 2004 Financial Report of the United States Government written by U. S. Secretary of the Treasury and published by Cosimo, Inc.. This book was released on 2005-06-01 with total page 161 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economy strengthened in fiscal year 2004, with real gross domestic product (GDP) growing at a faster pace than in the prior fiscal year and employment posting a large increase after declining in each of the previous 3 fiscal years. Rising employment and income contributed to an increase.in fiscal year 2004-the first gain in four years.Outlays, however, rose more than receipts and the Federal budget deficit widened in fiscal year 2004 to $412.3 billion, an increase of $37.5 billion from $374.8 billion in fiscal year 2003. Overall, results in fiscal year 2004 were mixed.- Economic and Budgetary Results, Financial Report Of The United States GovernmentFINANCIAL REPORT OF THE UNITED STATES GOVERNMENT is prepared to give the President, Congress, and the American people information about the financial results and position of the Federal Government. The Department of the Treasury's Financial Management Service, which provides centralized payment, collection, and reporting services for the Federal Government and acts as its money manager, issues this report on an annual basis.The Financial Report provides a broad, comprehensive overview of the Federal Government's finances and states the Government's financial position and condition, its revenues and costs, its assets and liabilities as well as other obligations and commitments.A Financial Report is submitted to Congress by March of each year as is required by law and is subject to audit by the Government Accountability Office (GAO). The next scheduled Financial Report will be issued in December 2005. For more information about the Department of Treasury, please visit http: //fms.treas.gov.
Download or read book Fiscal Year 2007 U S Government Financial Statements Sustained Improvement in Financial Management Is Crucial to Improving Accountability and Addressing the Long Term Fiscal Challenge written by Gene L. Dodaro and published by DIANE Publishing. This book was released on 2009-02 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Congress and the Pres. need to have reliable, useful and timely financial and performance info. to make sound decisions on the current and future direction of vital fed. gov¿t. programs and policies. There is no assurance on the reliability of the consolidated financial statements of the U.S. gov¿t. due primarily to certain material weaknesses in the fed. gov¿ts. internal control. Unless these weaknesses are adequately addressed, they will, among other things: (1) hamper the fed. gov¿ts. ability to reliably report a significant portion of its assets, liabilities, costs, and other related info.; and (2) affect the fed. gov¿ts. ability to reliably measure the full cost as well as the financial and non-financial performance of certain programs and activities. Includes recomm.
Download or read book Consolidated Financial Statements of the United States Government written by and published by . This book was released on 1976 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Making Sense of the Numbers written by United States. Congress. House. Committee on Oversight and Government Reform. Subcommittee on Government Organization, Efficiency, and Financial Management and published by . This book was released on 2011 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Monthly Catalog of United States Government Publications written by United States. Superintendent of Documents and published by . This book was released on 1968 with total page 1122 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Monthly Catalog of United States Government Publications written by and published by . This book was released on 1980 with total page 1146 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Resources in Education written by and published by . This book was released on 2001 with total page 760 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book 2016 Catalog of Federal Domestic Assistance written by United States. Congress. Senate. Office of Management and Budget. Executive Office of the President and published by . This book was released on 2016 with total page 1780 pages. Available in PDF, EPUB and Kindle. Book excerpt: Identifies and describes specific government assistance opportunities such as loans, grants, counseling, and procurement contracts available under many agencies and programs.
