Question

1. Compare and contrast the Balance Sheet of Colgate-Palmolive with the Balance Sheet of the City of Dallas Governmental-Type Funds for 2016.

2. Compare and contrast the Income statement of Colgate-Palmolive with the City of Dallas Statements of Revenue, Expenditures and Changes in Fund Balances for 2016.

Note:

This is a descriptive financial analysis; no data analysis is required. This question requires us to compare a governmental fund balance sheet and Statements of revenue, expenditures and changes in fund balance with the business equivalents in the for-profit sector.

Answer 1

Given data :

(1) : Compare and contrast the Balance Sheet of Colgate-Palmolive with the Balance Sheet of the City of Dallas Governmental-Type Funds

Answer:

Colgate-Palmolive is a company joined for business reason with 'benefits' as their primary thought process, while City of Dallas is an administration possessed association with social goal and henceforth the introduction of the Balance Sheet of both the association will be innately unique.

The accounting report of an association demonstrates the points of interest of Assets and liabilities of an association as on a specific date.However, the nature of Assets and liabilities relies on the idea of the association.

The real things of the advantages of City of Dallas incorporates pooled money, confined money and expense (sales tax , advertisement vale rum and special assessment) receivables though the real things of liabilities incorporate gathered finance, unmerited incomes, creditor liabilities and contracts payable.

The major items of the assets of Colgate-Palmolive includes Plant Property & Equipment, trademarks, inventory and cash balances whereas the major items of liabilities includes Share capital, reserves, bank debts and accounts payable.

The reason behind the differences in the items of balance sheet is

Asset items :

City of Dallas is an administrative association with real receivables in charges gathered from the national of Texas, and the real use of such assets is in government managed savings plans for which it has real sum lying in unlimited money adjusts. Nonetheless, Colgate-Palmolive is a business association, owning Assets as plant, property and Equipment. Further, the stock and money that it holds speaks to the advantages produced from its tasks and are relied upon to be exchanged over the here and now

Liability Items :

City of Dallas has liabilities as accumulated finance, creditor liabilities and contracts payable speaking to the sum payable for advancement of different regions under its purview. Be that as it may, Colgate Palmolive has value capital (speaking to the commitment of value investors), saves (representing the accumulated benefits) and bank debts and Accounts payable which are utilized to support the tasks of the organization. The distinction in the real things is because of the distinction in the nature of the association

Given data:

(2) : Compare and contrast the Income statement of Colgate-Palmolive with the City of Dallas Statements of Revenue, Expenditures and Changes in Fund -

Answer:

The income Statement of City of Dallas is distinctively named as Statement of Revenues, Expenditure and changes in support adjusts, where the greater part Income sources are tax collections, establishment expenses, licenses, fines and venture livelihoods. The Income sources are earned by leading social exercises, while the significant things of costs are open wellbeing costs, lightning costs, open works and other social costs.

The Income statement of Colgate Palmolive incorporates the income from offers of its items and the permit charge it got from its backups situated crosswise over different geologies, though the costs incorporate material acquiring costs, industrial facility running costs, finance costs and the duties that the organization is required to pay.

The difference in the Income statement of Colgate-Palmolive and City of Dallas is on account in the difference as association with particular.