Slide 1An OVERVIEW of CAFR COMPREHENSIVE YEARLY FINANCIAL REPORTA VIEW OVER THE BASIC FINANCIAL STATEMENTSSlide 4SOURCES OF INFORMATION IN THE ALTERATION PROCEDURECONVERSION METHODSlide 7REMARKS TO THE FINANCIAL STATEMENTSADDITIONAL INFORMATION THAT ARE ESSENTIALADDITIONAL INFORMATION THAT ARE ESSENTIAL (cont.)REFERENCESWIDE-RANGING ANNUAL FINANCIAL REPORT PRESENTATIONWIDE-RANGING ANNUAL FINANCIAL REPORT PRESENTATIONAN OVERVIEW OFCAFRCOMPREHENSIVE YEARLY FINANCIAL REPORTThere are three major sections included in the CAFR.1. Introductory Section – In this section we get ideas about the CAFR, it’s background and about other achievement certificates and Letter of Transmittal.2. Financial Section – Information on the Schedules, MD&A, and narratives, RSI, Basic Financial Statements and also about various funds.3. Statistical Section – Deals with Debt capacity, Operating Information along with the Revenue and Economy.A VIEW OVER THE BASIC FINANCIAL STATEMENTS Government-Wide (G-W) Financial proclamationsStatement of Net Assets – gives information that covers reporting government. Statement of Activities – schemes from both government side and business side.Government Funds Financial proclamationsLas Vegas’ the Balance SheetOn the basis of GAAP, the statement of Revenues, Expenditures, and alteration in City Fund Balances.The Budget and Actual statement of Revenues, expenses and amendment in Fund Balances for the year.CONVERTING FUND FINANCIAL STATEMENTS TO GOVERNMENT-WIDE FINANCIAL STATEMENTSstarting description…The essential building blocks for the Government-Wide financial statements are Fund financial statements .Conversion of Fund Information to G-W information was G-W statement preparation . It is the end of the year when the conversion process occurs.SOURCES OF INFORMATION IN THE ALTERATION PROCEDUREFund Financial Statements – mostly in the entire ColumnsGeneral Capital Assets – from the activities of the GovernmentGeneral Long-term Liabilities –bonds, long term debts, lease agreements, notes and other net assets like these.CONVERSION METHODOverview showing motives for GASB 34 amendmentsWorksheet adjustments types ReviewTABLE OF INFORMATION FLOW FOR THE GOVERNMENT-WIDE STATEMENTSCONVERSION PROCEDURE – CONT.REMARKS TO THE FINANCIAL STATEMENTSThe momentous part for the financial statements are notes. - A part essential for the basic financial statements - Important description on accounting policies - Supplies necessary information to a reader to understand the basic financial statements.ADDITIONAL INFORMATION THAT ARE ESSENTIALADDITIONAL INFORMATION THAT ARE ESSENTIAL(CONT.)Auditor responsibility is essential and involved by REQUIRED SUPPLEMENTARY INFORMATION.budgetary comparison schedules ,for both the general fund and each major special revenue fund, is included by RSI.In order to supplement the basic financial statements, agendas, statistical data, and further information designed to do so are included by RSI.REFERENCESCopley, Paul A. Engstrom, J.H. (2011), Essentials of Accounting for Governmental and Not-for-Profit Organizations, Tenth Edition, the McGraw-Hill Companies, IncGranof M.H. & Wardlow P.S. (2011) Core Concepts of Government and Not-for-Profit Accounting. Second Edition. New York, NY. Wiley & SonsSummary of Statement No. 34 (n.d) retrieved June 22, 2011 from Government Accounting Standards Board Website: htpp://www.gasb.org/st/summary/gstsm34/htmlGauthier, S.J. (2008). Presenting information in financial reports. Retrieved from htpp://findarticles.com/p/articles/mi_hb6642/is_5_20/ai_n29127627/City of Las Vegas, Nevada Comprehensive Annual Financial Report (June 20, 2010),