Assignment – Financial
Reporting Review of the Federal Government
Two centuries after the publication
of the U.S. Constitution, it is still difficult for the federal government to
issue financial statements. In this assignment, you examine the U.S. federal
government’s financial statements to explore the differences in these
statements from other governmental financial statements and the reasons that
necessitate these differences.
Instructions (see below and also attached as a pdf file)
Write a 3–5-page paper in which you
address the following:
Discuss three unique characteristics of the federal
government that necessitate special accounting and reporting practices,
presenting one example for each characteristic.
After reviewing the most recent federal government
financial statement of the Financial Report of the United States Government
· Link
to Financial Report of the United States Goverment. – https://fiscal.treasury.gov/reports-statements/financial-report/current-report.html
(a pdf version is included in the attached files)
· Explain
the type of audit performed, the audit opinion issued, and the auditor’s reason
for that opinion.
· Identify each of the eight financial statements presented
by the federal government and the relevance of each statement’s content to a
financial statement user.
· Select one of the federal government’s reporting entities
included in the Financial Report of the United States Government and express an
opinion on whether it is meeting its objectives. Justify your opinion with at
least three pieces of data from the reporting entity’s financial report.
· Use at least three quality sources to support your writing.
Choose sources that are credible, relevant, and appropriate. Cite each source
listed on your source page at least one time within your assignment.
Category: Accounting
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“Examining the Unique Characteristics and Financial Reporting of the U.S. Federal Government”
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Title: “Evaluating the Impact of Saudi Governmental Accounting on Corporate Social Responsibility and Local Content Initiatives”
the details
It must be rich and useful, include images, be distinctive, and follow the APA documentation system
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The presentation details are as follows: -
Title: Valuation of Walmart using CAPM and Residual Income Method
Review Integrative Case 13.1. Walmart (see Chapter 13 and Chatpet 12 attached), answer the following questions from the text:
Use the CAPM to compute the required rate of return on common equity capital for Walmart.
Derive the projected residual income for Walmart for Years +1 through +6 based on the projected financial statements.
Using the required rate of return on common equity from Requirement a as a discount rate, compute the sum of the present value of residual income for Walmart for Years +1 through +5.
Using the required rate of return on common equity from Requirement a as a discount rate, and assuming a 3.0% long-run growth rate, compute the continuing value of Walmart as of the start of Year +6 based on Walmart’s continuing residual income in Year +6 and beyond. After computing continuing value as of the start of Year +6, discount it to present value at the start of Year +1.
Compute the value of a share of Walmart common stock.
Compute the total sum of the present value of all future residual income (from Requirements c and d).
Add the book value of equity as of the beginning of the valuation (that is, as of the end of fiscal 2020, or the start of Year +1).
Adjust the total sum of the present value of residual income plus book value of common equity using the midyear discounting adjustment factor.
Compute the per-share value estimate.
Please answer this last question.
In the context of earnings-based valuation methods, how do you believe companies should navigate the balance between emphasizing short-term profitability and sustaining long-term value? Submit your answer in word, or excel.
See the PDF Textbook and files atatched. -
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