Please Answer All questions. THIS IS NOT A PARAGRAPH FORM PAPER ANSWER THE QUESTIONS WITH THE FOLLOWING LINK ABOUT
Review the financial statements of the U.S. government as of Sep. 30, 2016. They can be found at the below website. Please use the Sep. 30, 2016 financials for Part 1
Questions 1 & 2 can be found on the Statement of Net Cost.
1) What are the three largest government units based on net cost?
2) Which government department operated at the largest net profit?
Questions 3 & 4 can be found on the Statement of Operations and Changes in Net Position
3) What are the two largest sources of revenue to the federal government (consolidated)?
4) Which item on the Statement of Operations and Changes in Net Position agrees (articulates) with the Statement of Net Cost?
Questions 5 & 6 can be found on the Balance Sheet.
5) What are the two largest liabilities reported on the balance sheet?
6) Which item on the balance sheet agrees (articulates) with the Statement of Operations and Changes in Net Position.
Review the Single Audit report of Prince Georges County, Maryland as of June 30th 2014
7) How many major programs were identified?
8) Were material weaknesses in internal control over financial reporting identified by the auditor?
9) Were material weaknesses in internal control over major programs (federal awards) identified by the auditor?
10) Were “corrective action plans” documented in the report?