Question

As accountants, what section of the CAFR seems the most interesting? Which portion of the CAFR would be the most interesting to the citizens? Why?

Answer 1

CAFR means Comprehensive Annual Financial Report, CAFR provide report on state & local financial statements. these govt department prepare financial reports on assets liabilities , revenue, & expenditure as per government accouting standard board. This financial report calles CAFR.

CAFR provode the information on government financial condition & all government funds. And Present the information on accural basis recognizing amounts owed by the government but not paid at the end year, as well as amounts due to the government but not received by the end of year and also contain the information on assets & liability

Section of CAFR There are three section of CAFR 1. Introduction 2. Financial 3. statistical

Financail section of CAFR seems to most interesting thats report the overall financail information for the current year as well as comparision with previous year

Statistical section portion of CAFR is most interesting to citizens because thats ananysis of fund accounting authority results.