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Management Discussion And Analysis Paper

420 Words2 Pages

Management Discussion and Analysis (MD&A) is a narrative overview and analysis of the financial activities for the fiscal year ended. MD&A is to provide a brief, objective, and easily readable analysis of the financial performance for the year and its financial position at the fiscal year ended. It should provide an analysis of any significant changes that occur in funds and any significant budget variances. The state and local funds are: governmental funds, proprietary funds, fiduciary funds, and lastly, government-wide. The fund statements for governmental funds are presented using the current financial resources measurement focus and modified accrual basis of accounting. Governmental funds do not receive services in direct proportions to …show more content…

Required proprietary fund statements are a statement of net assets, and a statement of cash flows. Fiduciary funds are used to account for resources held for the benefit of parties outside of the state government. These funds are not reflected in the government-wide financial statements because the resources of these funds are not readily available. It is also sometimes known as trust and agency funds. There are four types of fiduciary funds: agency funds, pension trust funds, investment trust funds, and lastly private-purpose funds. Required fiduciary fund statements are a statement of fiduciary net assets and a statement of changes in fiduciary net assets Government-wide financial statements are designed to provide the reader with an overview of the financial position. The statements include a statement of net assets and a statement of activities. Both of these statements distinguish functions that are supported by taxes and government activities from other functions that are intended to recover costs of user fees and charges to business type

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