Question

How information and financial statements of a community should be presented to the local citizens?

Answer 1

Citizens have the feeling that they have little influence over how money is spent. Their suspicions that special interest driven local decisions. The information and the financial statement of a community should be presented to a local citizens are like that the citizens must want to understand the availability of government's current financial reports. It helps to analyse the governments current financial position to a citizen. Understand the government's ability to issue new debt and repay outstanding debt issuances. The government must want to communicate about long-term financial status based on future commitments and contingencies. The government must want to provide the detailed information about the amount of infrastructure investment made by the government during the year, review salaries and develop changes to hiring plans, evaluate creditworthiness, determine whether to invest in government bonds are the effectiveness of efficiency of tax revenue usage. The information and financial statement must be understandability, reliability, relevance, timeliness, consistency and comparability. It must not be confusing. Financial statements must not be confusing It must be clear and can be understandable to every citizen. These are the reports that standard that citizens, oversight bodies and other stakeholders used to judge their governments efficiency, effectiveness and overall financial condition.