Question :
Choose a public university system and review the audit report and financial statements for the system.
Prepare a three to four page paper in which you:
1. Check and analyze the employee pension plan disclosures in the financial statements. Determine the impact of the GAASB proposed changes to the pension liabilities on the financial statements of the institution.
2. Check and analyze the economic conditions that may affect the future growth and success of the institution.
3. Review and determine the treatment of federal grants such as supplemental grants, and Pell grants, and work study on the revenue reported for the institution.
4. Compare the treatment of endowments, restricted funds with GAASB, earnings on endowments requirements.