Accounting for Non-profit and Government | Online Homework Aiders

I need help with a Social Science question. All explanations and answers will be used to help me learn.

Don't use plagiarized sources. Get Your Custom Essay on
Accounting for Non-profit and Government | Online Homework Aiders
Get an essay WRITTEN FOR YOU, Plagiarism free, and by an EXPERT! Just from $10/Page
Order Essay

Answer the three questions from the following scenario, in very short answers:

Considerations Involving a Service Concession Arrangement. You are a town council member in the seaside town of Pleasantville. Poor economic conditions and unusually severe weather conditions have affected tourism in the town, leading to significantly reduced sales, income, and hotel resort tax collections. Town revenue is 50 percent below budget, while expenditures remain constant at budgeted levels; hence, a sizable budget deficit is imminent. A group of investors has approached the town council with a proposal to take over operations of metered parking areas and the municipal beach parking garage for 20 years. In return for the anticipated parking revenues, the town will receive a $1 million up-front payment and retain full ownership of the parking operations at the end of the agreement. The town will also have some control over rates charged and will collect parking fines assessed. The town will continue to make debt payments related to the garage construction.

You perform some research and find that two larger cities in a neighboring state entered into a similar arrangement to mixed reviews. While city officials were praised for balancing their budgets and spending additional funds on local government programs, drivers complained about higher rates and frequent meter and parking garage malfunctions.

1. What questions do you have about the proposal?

2. Evaluate the proposal on a long-term and short-term basis.

3. How do you think the agreement would affect the city’s bond rating?

Answer the following questions with very short answers.

A. How are general long-term liabilities distinguished from other long-term liabilities of the government? How does the financial reporting of general long-term liabilities differ from the financial reporting of other long-term liabilities?

B. What disclosures about long-term liabilities are required in the notes to the financial statements?

C. What is the purpose of a debt service fund? Does a debt service fund require budgeting? Why or why not?

D. Although the most common type of general long-term liabilities are those arising from financing activities (e.g., bonds, notes, and capital leases), general long-term liabilities can also be created through operating activities. Provide examples of long-term liabilities other than those related to financing.

E. What is overlapping debt? Why would a citizen care about the amount of overlapping debt reported? Why would a government care about the amount of overlapping debt reported?

F. Governments are prevented from borrowing unlimited funds through the enforcement of debt limits. Explain the concept of a debt limit. How are debt limits computed? How is the concept of borrowing power or debt margin connected to debt limits?

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.