Question 1:
Discuss and illustrate out the term financial reporting?
Question 2:
Discuss and illustrate out five (5) characteristics of government which affect the nature of information reported?
Question 3:
Discuss and illustrate out how financial reporting illustrates the accountability of government for the financial affairs and resources entrusted to it?
Question 4:
Recognize and briefly illustrate out four qualitative characteristics of financial information.
Question 5:
Recognize four (4) principal users of government financial report and their needs.
Question 6:
Briefly illustrate out what accrual accounting is.
Question 7:
State all four reasons for increasing trends of using accrual accounting in government reporting worldwide.
Question 8:
Illustrate out how accrual accounting diverges from cash accounting.