Financial Accounting Standards Essay Example | Topics and Well Written Essays - 1000 words

Financial Accounting Standards - Essay Example The statistics present all this information in the form of numerical data. Thus, the CAFR is created. This essay will discuss the CAFR of Texas and all its major components. The Texas CAFR has a table of contents which divides the report into the three parts mentioned above. The first part is known as the introductory section and includes the letter of transmittal along with the structure of the government in Texas and the officials involved in ensuring its smooth running. The second part of the CAFR includes a number of different components. It begins with the independent auditor's report and continues with the management's discussion and analysis of the report. It also government financial statements which include the net assets and the statement of activities conducted by the state. Also included are the balance sheets, different funds statements which government's funds balance in the net assets and the revenues and expenditure in the governmental balance sheets. These proprietary funds also count the net assets and cash flows. Fiduciary net assets and the changes made to them are included in the financial report. Non-major funds are part of the financial statements of the CAFR. This includes governmental, special revenue, debt service, capital projects, and permanent funds. The balance sheets and revenue, expenditure and changes are also provided for in the fund balances. Non-major enterprise forms a separate aspect of the report. It includes statements of net assets, cash flows and revenues and changes made to the fund net assets for non-major enterprise and educational institutions: colleges and universities. Pension and other employee benefits, trust funds set for private purposes and funds used by agencies are included in the CAFR. The fiduciary net assets are observed along with the changes in these assets. The financial statement ends with a statement of the net activities and assets of the state. The statistical section includes the financial trends which include the net assets and governmental funds and the changes made to them. Also, the revenue is counted which includes the tax collections, retail sales and gross state product. The debt is also covered in the statistics with the outstanding debt and outstanding bond coverage being counted into it. Demographic information like the top ten employers in Texas and employment and unemployment rates are also presented in this statistical report. It ends with the capital assets and their operation in Texas. Thus, these three sections are divided into a variety of components to create the CAFR of Texas (Texas Comptroller of Public Accounts) which helps determine the funds and balance available to this state of America. Governmental Accounting Standards Board (GASB) and Financial Accounting Standards Board (FASB) Analysis paper The GASB is the model applied by the General Accepted Accounting Principles used at the federal and state level in the United States. The FASB is also similar to this model because it too has been created to establish General Accounting Principles for the public interest of the country. However, the difference is that while GASB sets standards for financial accounting and reporting at the state and local government level, FASB does the same job for the private sector which includes not-for-profit

Source Evaluation Essay Example | Topics and Well Written Essays - 1000 words

Source Evaluation - Essay Example Consequently, the number of available papers intended for this topic has made finding suitable sources a very difficult and tedious process. Some titles with good information may be those published a few decades ago, while there are also some recently released papers posted on the internet which pose doubts in terms of integrity and sincerity. Indeed after meticulously reviewing the available list of sources, five academic titles have been chosen to serve as references for the upcoming research paper namely Recycling and Waste Diversion Effectiveness: Evidence from Canada by Ida Ferrara  and  Paul Missios, Managing Electronic Waste: Issues with Exporting E-Waste by Linda Luther, Recycling and Waste-to-Energy: The Ongoing Compatibility Success Story by Jonathan V. L. Kiser, Greening Household Behaviour:  The Role of Public Policy and Improving Recycling Markets both by Organisation for Economic Co-operation and Development (OECD). Recycling and Waste Diversion Effectiveness: Evi dence from Canada is a paper written by Ida Ferrara  and  Paul Missios that was published in the 2005 issue of Environmental and Resource Economics, a peer-reviewed academic journal about environmental economics and one that acts as the official journal of the European Association of Environmental and Resource Economists since 1991 (Environmental Economics). The paper explores the relationship between recycling policy options and recycling behaviors that will identify the effective means of averting post-consumer waste. Also, it focuses on the significant effects of mandatory recycling for almost all types of provisions, which is similar to the core of my research paper. Its authors Dr. Ida Ferrara and Dr. Paul Missios both completed their Ph.D at York University. Ferrara is currently the Associate Professor of Economics at the Faculty of Liberal Arts and Professional Studies in the same school (York University) while Missios is the Chair of the Department of Economics and Assoc iate Professor at Ryerson University in Canada (Energy Innovation Corp.). They both received several merit and research awards and numerous study grants over the years and have written several articles for peer-reviewed publications, journals, books and technical papers specifically in the Canadian territories. Managing Electronic Waste: Issues with Exporting E-waste is a book written by Linda Luther, an analyst in Environmental Policy at the Congressional Research Service in the United States who took her Masters degree in John Hopkins University (Profile). It was published in 2010 by DIANE Publishing which distributes important documents and reports from the U.S. government. They also publish journals of prestigious associations such as the American Philosophical Society, the Historical Society of Pennsylvania and The Library Company of Philadelphia (Diane Publishing). The featured book focuses on the hazards of e-wastes and its relevant recycling procedures. This will set the int roduction of my research paper by presenting the impact of garbage to the society and the factors influencing recycling. Recycling and Waste-to-Energy: The Ongoing Compatibility Success Story by Jonathan V.L. Kiser is an article featured in the online copy of MSW Management:  The Journal for Municipal Solid Waste Professionals in its May-June 2003 series. The paper demonstrates how recycling and waste-to-energy management finally work together after ten years of tedious investigation. This will address my research paper’s claims that recycling is an efficient waste management process that will benefit everyone. Kiser did his MBA in Business