Government Accounting

Prepare four documents (5-7 pages total) that advise a county board of advisers on matters related to a proposed tax rate, participative vs. authoritative budgets, methods of governmental financial reporting, and a cost-variance analysis.

Introduction
This assessment will give you the opportunity to act as the comptroller for an imaginary Caroline County. As the comptroller, you will prepare and submit documents to the County Board that explain and demonstrate the unique accounting methods used by a county government, including the calculation and proposal of a tax rate.

Demonstration of Proficiency
By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies through corresponding scoring guide criteria:

Competency 1: Apply advanced accounting techniques to organizational situations.
Explain dual government financial reports, including their names, contents, and the reason for the two sets.
Competency 2: Analyze budgeting practices in organizations.
Analyze revenues and expenditures for a governmental entity.
Competency 3: Apply appropriate budgeting techniques for planning, executing, and controlling. Competency 4: Apply quantitative models to create and manage budgets and forecasts and evaluate budget performance.
Present tax rate necessary to balance revenues and expenditures for a governmental entity.
Compare participative budgets and authoritative budgets, including the advantages and disadvantages of each.
Create a budget based on estimated tax rate.
Explain how an overall variance is divided into a cost variance and a volume variance.
Competency 5: Communicate in a manner that is professional and consistent with expectations for members of the business professions.
Communicate in a manner that is professional and consistent with expectations for members of the business professions.
Scenario
For this assessment, you will act as the comptroller for an imaginary Caroline County. The current county board of supervisors is mostly new, so they will need a lot of guidance. One board member has requested an explanation for the two sets of financial reports used in government accounting. The board will also need recommendations on whether to approach the budget using an authoritative or participative approach. The most important item will be setting an appropriate tax rate for next year that takes into account the possible purchase of 6 new school busses, but the board has also requested a cost-variance analysis to explain food overages incurred during a recent bicentennial celebration at the county seat in Clarksville.

Your Role
You are the comptroller of the fictional Caroline County.

Requirements
For this assessment, your comptroller tasks will include preparing and submitting four different documents:

Document 1: Tax Rate Proposal and Budget (1–2 pages, not counting support documents and associated schedules)
In preparation for the annual meeting with the county board of supervisors, you will present a tax rate proposal and associated budget. To do so, you will need to:

Analyze revenues and expenditures for Caroline County.
Present a tax rate for the coming year that will balance revenues and expenditures in Caroline County.
Create a budget based on the estimated tax rate.
Data relevant to your proposal and budget:

Last year’s tax rate of 1.25% of assessed value of real estate was based on a budget requiring spending of $10,000,000 total from all sources.
One-fourth of that came from taxes on real estate.
The total assessed value of the property in the county was $200,000,000.
Since the last tax rate was set:
The county’s property has been appraised at an overall increase of 2 percent. This does not include the real estate of 15 new business at a total of $4,000,000 in assessed value or the addition of a new housing development adding a total of $10,000,000 in assessed value.
New regulations from the state will add $500,000 to the amount needed by county schools. The state will not pay for any of this $500,000.
The county would like to know the feasibility of purchasing 6 new school buses costing $200,000 USD each.
When preparing this tax rate proposal and budget (1–2 pages) for submission to the supervisors, include all relevant supporting documents and other information, such as:

Estimated assessed value of all property in the county.
Forecasted additions to the county surplus if the supervisors adopt your recommendation.
Document 2: Participative versus Authoritative Budget Recommendation (1–2 pages)
The county board of supervisors is currently debating whether the heads of the county departments should have more input into the budget preparation process than they have had in previous years. In other words, the board is debating whether to move to a more participative budgeting process. Write a report (1–2 pages) for presentation at the next board meeting that discusses the difference between a participative budget and an authoritative budget. Include the advantages and disadvantages of each.

Document 3: Government Financial Reporting Explanation (2 pages)
One of the newly elected members of the county board of supervisors is looking at last year’s Comprehensive Annual Financial Report and has noticed that it appears to contain two sets of financial reports instead of the one that he is used to seeing for business enterprises. He has asked you to explain this to him. Write an email (2 pages) that discusses the two sets of financial reports, including their names, their contents, and the reason that there are two sets.

Document 4: Cost-Variance Analysis (1 page)
A party was held to celebrate the bicentennial of Clarksville, the county seat of Caroline County. Six-hundred attendees were estimated, but 700 arrived. The food and entertainment budget was $6,000, but the actual costs were $7,500. The overall spending variance was $1,500 ($7,500 – $6,000 = $1,500). Using flexible budgeting techniques and variance analysis, write a report (1 page) that explains how this $1,500 overall variance is divided into a cost variance and a volume variance. Include your calculations and conclusions to present at the next board meeting.

Compelling correspondence is essential to the achievement all things considered but since of the changing idea of the present working environments, successful correspondence turns out to be more troublesome, and because of the numerous impediments that will permit beneficiaries to acknowledge the plan of the sender It is restricted. Misguided judgments.In spite of the fact that correspondence inside the association is rarely completely open, numerous straightforward arrangements can be executed to advance the effect of these hindrances.

Concerning specific contextual analysis, two significant correspondence standards, correspondence channel determination and commotion are self-evident. This course presents the standards of correspondence, the act of general correspondence, and different speculations to all the more likely comprehend the correspondence exchanges experienced in regular daily existence. The standards and practices that you learn in this course give the premise to additionally learning and correspondence.

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This course starts with an outline of the correspondence cycle, the method of reasoning and hypothesis. In resulting modules of the course, we will look at explicit use of relational connections in close to home and expert life. These incorporate relational correspondence, bunch correspondence and dynamic, authoritative correspondence in the work environment or relational correspondence. Rule of Business Communication In request to make correspondence viable, it is important to follow a few rules and standards. Seven of them are fundamental and applicable, and these are clear, finished, brief, obliging, right, thought to be, concrete. These standards are frequently called 7C for business correspondence. The subtleties of these correspondence standards are examined underneath: Politeness Principle: When conveying, we should build up a cordial relationship with every individual who sends data to us.

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It is a unique cycle that oversees force, closeness and limits, cohesiveness and flexibility of route frameworks, and makes pictures, topics, stories, ceremonies, rules, jobs, making implications, making a feeling of family life An intelligent cycle that makes a model. This model has passed ages. Notwithstanding the view as a family and family automatic framework, one of the greatest exploration establishments in between family correspondence centers around a family correspondence model. Family correspondence model (FCP) hypothesis clarifies why families impart in their own specific manner dependent on one another ‘s psychological direction. Early FCP research established in media research is keen on how families handle broad communications data. Family correspondence was perceived as an exceptional scholastic exploration field by the National Communications Association in 1989. Family correspondence researchers were at first impacted by family research, social brain science, and relational hypothesis, before long built up the hypothesis and began research in a family framework zeroed in on a significant job. Until 2001, the primary issue of the Family Communication Research Journal, Family Communication Magazine, was given. Family correspondence is more than the field of correspondence analysts in the family. Examination on family correspondence is normally done by individuals in brain science, humanism, and family research, to give some examples models. However, as the popular family correspondence researcher Leslie Baxter stated, it is the focal point of this intelligent semantic creation measure making the grant of family correspondence special. In the field of in-home correspondence, correspondence is normally not founded on autonomous messages from one sender to one beneficiary, yet dependent on the dynamic interdependency of data shared among families It is conceptualized. The focal point of this methodology is on the shared trait of semantic development inside family frameworks. As such, producing doesn’t happen in vacuum, however it happens in a wide scope of ages and social exchange.

Standards are rules end up being followed when performing work to agree to a given objective. Hierarchical achievement relies significantly upon compelling correspondence. So as to successfully impart, it is important to follow a few standards and rules. Coming up next are rules to guarantee powerful correspondence: clearness: lucidity of data is a significant guideline of correspondence. For beneficiaries to know the message plainly, the messages ought to be sorted out in a basic language. To guarantee that beneficiaries can without much of a stretch comprehend the importance of the message, the sender needs to impart unmistakably and unhesitatingly so the beneficiary can plainly and unquestionably comprehend the data.>

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