Free Essay

Retirement Fund & Property Analysis

In: Business and Management

Submitted By ktjscm
Words 3248
Pages 13
TABLE OF CONTENTS
Introduction – Part 1
Retirement Analysis – Part 2
Retirement Property Investment Analysis – Part 3
Recommendations - Part 4
Appendix – MLS Brochures

Introduction
Team B of Investment Asset Managers Inc, has been tasked with a major project of preparing a recommendation of alternative residential retirement properties for a couple. The team intends of offering an option that will fulfill all of the couple’s needs, wants and within their yearly budget. Since the couple wishes to remain anonymous, Team B will work directly with their representative lawyer, Kenneth Strang. The team has determined that the work requested should take approximately 2 weeks and will includes four members at a full time rate of $30 per hour. Total cost for the project will be $9600. Team B’s members include Geoffrey Ramsay, Brett Sheppard, Wayne Johnson, and Michael Smith.
Retirement Analysis
403 (b) Retirement payment options:
Plan Option One:
Investment: $277,770
Joint Lifetime Income With a 20-Year guarantee period (Also Known as Joint and Survivor With 20-Year Period Certain) and 100% continuing benefit to Survivor
Monthly Payment for Owner: $1,291
Monthly Payment for Surviving Owner: $1,291
Minimum Payout: $309,840
What it means to you:
This annuity provides income to you and another person (e.g., a spouse) for as long as either of you is alive. When one of you passes away, the survivor continues to receive income at 100% of the original amount. If you and your spouse pass away before the guarantee period ends, the remaining income payments continue to a beneficiary until the end of that time period.
Considerations:
If you're trying to get more out of your retirement savings, remember that there's a cost for adding a guarantee period. Carefully consider the value of this feature and the guarantee period length that's right for you.
There are a range of guarantee period lengths. Since the payment amount (or initial investment amount) for this annuity is partly based on life expectancy tables, be sure to consider your age and health relative to your life expectancy when choosing a guarantee period. Shortening the period will increase your income payment. Lengthening it will increase your total minimum payout but decrease your income payments.
A cash refund is an alternative option that may be less expensive. It ensures a beneficiary receives what's left of your original investment as a lump-sum if both owners annuitants owners pass away. To evaluate the value of these protection options, compare the minimum payouts on the prior results screen.
Plan Option Two:
Investment: $277,770
Joint Life with Cash Refund (Also Known as Joint and Survivor with Refund Certain) and 100% Continuing Benefit to Survivor
Monthly Payment for Owner: $1,311
Monthly Payment for Surviving Owner: $1,311
Minimum Payout: $277,770
What it means to you:
This annuity provides income to you and another person (e.g., a spouse) for as long as either of you is alive. When one of you passes away, the survivor continues to receive income at 100% of the original amount. When both of you pass away, the remaining value of your original investment is paid to a beneficiary in a lump-sum.
Considerations:
While a cash refund helps protect your original investment, the cost of this feature means you'll receive a lower income payment compared to a lifetime income annuity with no protection features.
An alternative option to consider is a guarantee period that offers protection over time. If both annuitants pass away before the guarantee period ends, the remaining income payments continue to a beneficiary until the end of that period. Depending on the length of the guarantee period, this option may offer a higher minimum guaranteed payout than the cash refund option. To evaluate the value of these protection options, compare the minimum payouts on the prior results screen.
Our assumptions
In order to simplify this estimator, we have made some additional assumptions on your behalf that, when combined with the inputs you have given us, result in the numbers presented here.
The assumptions that we have made on your behalf are:
The owner(s) is also the annuitant(s)
Payments will be made monthly
The annuity purchase date is 7 days from today
You receive your first income payment one month after the purchase date
Funds used to purchase this annuity are from after tax-sources such as mutual funds or stocks
When you work with a representative you can modify the assumption criteria to customize your income to your specific needs. It is possible to:
Have a different payment frequency (e.g., quarterly or annually)
Delay your first payment for up to one year
Choose a different income start date
You can also use qualified tax dollars, such as money from a 401(k) or IRA, to purchase an income annuity. The fund type can affect tax amounts on income.
Modifying the above assumptions can result in a different income payout
Some other important factors are:
Rates are subject to change.
The estimates displayed here are rounded to the nearest whole dollar
To replicate the income payment, the same investment amount used to get an estimate must be used to fund the annuity
The payments do not reflect the impact of taxes.
Retirement Property Investment Analysis
Team B look at the criteria’s that were presented for the couple and prioritized a list based on what the team felt they could accomplish and what would be the most important for a couple in retirement age Although all requests are important it’s also important to understand the features that can be controlled and those than cannot. 1. Geographic: location features a. Topography: palm trees, not too hilly to walk and bike, need bike or water access (they have two kayaks and two bikes = would like both water and biking) 2. Climate: warm, sunny, tropical, no snow beyond 1/2 foot or 2 storms/year, b. Severe weather: historical / predictive: "hurricane safe", no floods or tornados/severe storms expected for 30 years (mortality tables joint survivorship from age 67 = 97); c. Land use: do not wish to live beside a large interstate, factory, shopping mall, sports track, power plant, train station/tracks, or any such structure which will generate a lot of noise 3. House style: d. Goals: single detached house, cottage, or condo on the top floor i. any construction material or layout but consider their age & expectancy to live 30 years (e.g., 4 level split or basements may be problematic) 1. prefer "concrete block construction" (or concrete) ii. 1000 sq ft+ iii. 1 bath+, 1 bedroom+ -> prefer 2 bath & 2 bedrooms for "friends" visiting iv. garage or covered parking for 2 vehicles (car + SUV), 2 bikes & 2 jet skis 2. maybe a shed for bikes & jet skis 3. assume they will use all their "comfy" furniture v. balcony, vi. swimming pool, vii. palm trees already grown e. Avoid: trailer, townhouse, or senior citizen facility, no SUV or camping 4. Recreation: f. walking & biking trails g. Water access (see topography) - a type fresh or sea (not specifically mentioned), maybe a compromise would be biking trail with pool or river? h. Pets: dogs probably need fenced back yard (or could install wireless)? i. Tennis and/or shuffle board either in yard or in community would be nice 5. Culture: j. Language / ethnic demographics: mostly English speaking (1/2 Spanish would likely be ok… Spanish are very friendly and predominately a collectivist culture… very helpful and family oriented!) k. Community: "(to ensure it is quiet).", see also recreation (tennis or shuffle board)
Properties Reviewed 11831 Sandman St# 134San Antonio, TX 78216 | 504 BethanySt Johns, FL 32084 | 2150 W Alameda Rd #1003AZ 85085 | 9988 E Fortuna Ave AZ 85118 | Beds: | 3 | Baths: | 3 | Sqft: | 1,380 | Lot: | 21,829 sq ft | Type: | Condo | Year built: | 1972 | Parking: | Garage - Detached | Cooling: | Central | Heating: | Forced air | Fireplace: | -- | On Zillow: | 140 days | MLS #: | 929019 | | Beds: | 3 | Baths: | 2 | Sqft: | 1,137 | Lot: | -- | Type: | Single Family | Year built: | 2006 | Parking: | -- | Cooling: | -- | Heating: | -- | Fireplace: | No | On Zillow: | 70 days | MLS #: | 601811 | | Beds: | 3 | Baths: | 2.5 | Sqft: | 1,380 | Lot: | 1,445 sq ft | Type: | Apartment | Year built: | 2008 | Parking: | -- | Cooling: | Refrigerator | Heating: | -- | Fireplace: | -- | On Zillow: | 162 days | MLS #: | 4701210 | | Beds: | 3 | Baths: | 2 | Sqft: | 1,465 | Lot: | -- | Type: | Single Family | Year built: | 1994 | Last sold: | Jun 1993 for $73,900 | Parking: | Garage - Attached | Cooling: | -- | Heating: | -- | Fireplace: | -- | |

Overview of Recommended Property
Gold Canyon Arizona is a newer, well maintained unincorporated city in Pinal County about 40 minutes east of the Phoenix Sky Harbor airport. It is considered an upscale community that has many affordable homes. It is adjacent to the Superstition Mountain Wilderness, at the foothills of Superstition Mountain, which offer thousands of square miles of public land for hiking, bike riding, photography, camping or hunting. There are five 18-hole championship length golf courses within Gold Canyon and dozens more within a 30 minute drive. The view of the Superstition Mountain, along with evening sunsets, is one of the most picturesque areas in all of Arizona.
The sale price for the home at 9988 Fortuna Avenue Gold Canyon, Arizona 85118 is for $99,000.00. Allowing a $10,000.00 budget for a down payment and closing costs, we will use a total of $5000.00 for a down payment have an interest rate of 3.175% and an APR of 4.201% for a 30 year fixed rate mortgage. All closing costs including Closing Attorney/Agent, Appraiser, Title Insurance, & Credit Reporting for the loan add up to $2444.00. Configuring homeowners insurance and property taxes which are included into the escrow fees add up to $1412.08. Adding a government recording fee of $38.00 the total down payment costs will include $5830.42. . This leaves $4169.58 for any additional costs for items like new appliances, moving costs and home repairs they may see fit. The monthly mortgage rate is calculated as Principal and Interest at $415.57 + Mortgage Insurance at $60.32 + Home Insurance at $51.42 + Property Taxes at equals $645.64 for a total monthly payment. This leaves $4169.58 for any additional costs for items like new appliances, moving costs and home repairs they may see fit. This property was chosen because it accomplishes many of the objectives of the couple. The overall cost of the property fits right in to the budget and allows for reserves to purchase necessities such as appliances. Fire insurance policy has been included into the homeowners insurance which is included into the loan of the house. The homeowners insurance is computed as $617.00 a year which divided by 12 months equals $51.42 per month.

Monthly Budget Recommendation Analysis
Below is a breakdown of anticipated monthly expenditures to include mortgage, vehicle cost, vehicle insurance, food, insurance (health, dental, and vision), and miscellaneous funds.
Monthly expenses:
$645.64* Mortgage (Property - 9988 E Fortuna Avenue Gold Canyon, AZ 85118)
$300.00* Vehicle costs
$200.00* Vehicle insurance
$600.00* Food
$312.50 Health/Dental/Vision Insurance (Medicare, 2012)
$500.00* R&R/other
$2,558.14 Total per month *tabulated on a monthly basis

Monthly Revenue:
$300.00* Social Security
$2622.00* Joint Life with Cash Refund
$2,922.00 Total per month *tabulated on a monthly basis

References
Medicare.gov,. The Official U.S. Government site for Medicare. Retrieved from http://www.medicare.gov/default.aspx, Retrieved Jun 23, 2012.
Realtor.com. (2012, June 23). 9988 e fortuna avenue. Retrieved from http://www.realtor.com/realestateandhomes-detail/9988-E-Fortuna-Ave_Gold-

Appendix
MLS Brochures

PROPERTY I

9988 E Fortuna AvenueGold Canyon, AZ 85118$99,000($361/month)3 Beds| 2 Baths |1,465 Sq Ft |0.16 Acres | | | | | |
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Property Details
THIS IS A 3 BEDROOM AND 2 FULL BATH, WITH A NICE LARGE PLAY POOL. RV GATE, TILE IN ALL THE RIGHT PLACES. Beds | 3 beds | Baths | 2 baths | House Size | 1,465 sq ft | Lot Size | 0.16 Acres | Price | $99,000 | Price/sqft | $68 | Property Type | Single Family Home | Year Built | 1994 | Neighborhood | | Style | Not Available | Stories | 1 | Garage | 2 | Additional Rooms | Not Available | Property Features | Status: Contingent | County: Pinal | 1 stories | Family room | Kitchen | Pool features: Play Pool | 2 car garage(s) | RV/boat parking | Cooling features: Refrigeration | Inclusions: ASSOCIATION FEE INCLUDES: No Fees | Utilities present: Septic, Septic in & Connected, Private Water Company | Call agent for details on association fee info. | School District: Elem School Dist # 0043 - Apache Junction Unified District - Pinal, High School Dist # 0043 - Apache Junction Unified District - Pinal | Elementary School: Gold Canyon | Jr. High School: Thunder Mountain | High School: Apache Junction | Swimming pool(s) | Dining room | Laundry room | Parking features: RV Gate, RV Parking | Property sale type: Short Sale | | | Fireplace Features | | Heating Features | Electric Heat | Exterior Construction | Frame - Wood, Painted, Stucco | Roofing | * Comp Shingle |

Interior Features | * Breakfast Bar * Dining in Family Room * Dining in LR/GR * Eat-in Kitchen * Formal Dining Room | * Inside Laundry * Great Room * Master Bedroom Split * 3/4 Bath in Master Bedroom | Exterior Features | * Block Fence | |

MLS ID | 4746236 | Listing brokered by | Veterans Integrity Realty | (480) 507-3881 |
-------------------------------------------------
Map

-------------------------------------------------
On Site Last Refreshed | 15 minutes ago | Added to Site | April 18, 2012 | Direct access URL | http://www.realtor.com/realestateandhomes-detail/9988-E-Fortuna-Ave_Gold-Canyon_AZ_85118_M17709-39971 |
-------------------------------------------------
School Information
School Districts: Apache Junction Unified Sd 43 | Sacaton Elementary School District 18 | Picacho Elementary School District 33 | Diocese Of Phoenix Education Office | Arizona State Charter School Board | J O Combs Unified Sd 44 | Mesa Unified School District 4 | Gilbert Unified School District 41 | Queen Creek Unified Sd 95 | Florence Unified School District 1 | Coolidge Unified School District 21 | | School Name | Distance | Grade | GreatSchools Rating | Parent Rating | Gold Canyon Elementary School | 0.2 mi | K - 5 | | | Sacaton Elementary School | 0.5 mi | K - 5 | | | Sacaton Middle School | 0.5 mi | 5 - 8 | | | Picacho Elementary School | 0.5 mi | K - 8 | | | St Peter Indian Mission School | 0.5 mi | K - 8 | | |
For a complete list of the schools near this property, please return to REALTOR.com ®.Proximity to listed schools and their school district(s) does not guarantee enrollment eligibility. Please contact a local real estate professional or the local school district(s) for the most current information relating to schools in the area GreatSchools.org and Onboard Informatics © 2010
-------------------------------------------------
Sales History
No sales history available.
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Tax History Year | Tax Paid | Building Assignment | Land Assignment | Total Assignment | 2012 | N/A | $8,214 | $1,700 | $9,914 | 2011 | $1,435 | $8,214 | $2,500 | $10,714 | 2010 | $1,448 | $8,265 | $4,000 | $12,265 | 2009 | $1,797 | N/A | N/A | N/A | 2008 | $1,803 | N/A | N/A | N/A |
Source: Public Records.
The Property Price and Tax history data displayed is obtained from public records and/or MLS feeds from the local jurisdiction in which the applicable property is located. As REALTOR.com® cannot guarantee that all public records and MLS data is accurate and error-free, it is important that you contact your REALTOR® directly in order to obtain the most up-to-date information available.
Formatted for easy printing so you can take this with you. Remember to say you found it on REALTOR.com ®.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. You must verify the information and bear all risk for inaccuracies.

Scan this QR code to see this listing online.
9988 E Fortuna Avenue, Gold Canyon, AZ 85118 http://www.realtor.com/realestateandhomes-detail/9988-E-Fortuna-Ave_Gold-Canyon_AZ_85118_M17709-39971 PROPERTY II * * 504 Bethany Pl, Saint Augustine FL 32084 * MLS ID: #601811 * 2,056 views as of 6/22/12 * * $114,900
3 br 2 ba Sqft
Single-Family Home * Open House Times * hidden * * Listing Agent: Robin Arnold * Ph. (904) 297-1825 * * Listing Broker: Beach Rental Network, Inc/ Endless Summer Realty * -------------------------------------------------
Listing Description * BETTER THAN NEW! 2006 BUILT 3 BEDROOM 2 BATH HOME. OPEN FLOOR PLAN WITH NEWLY INSTALLED PORCELAIN TILE THROUGHOUT MAIN LIVING AREAS. CONCRTE BLOCK JUST MINUTES TO DOWNTOWN! BIG OVERSIZED LOT WITH PATIO. NEW AC UNIT, DISHWASHER, DISPOSAL, UPGRADES IN BATHROOM AND LIGHT FIXTURES THROUGHOUT. SHORTSALE SUBJECT TO 3rd PARTY APPROVAL. * My Notes * -------------------------------------------------
Property Map * * -------------------------------------------------

PROPERTY III 2150 W ALAMEDA ROAD Unit 1003 (Status: AWC - Active With Contingent) | MLS#: 4701210 | Nicely upgraded and move-in ready. This home is model perfect give a feel of living in luxury everyday. Including a gourmet kitchen, family room and den. 18 inch ceramic tile throughout. Nice size bedrooms upstairs upgraded baths and large master closet. Enjoy outdoor living in the quaint backyard. The location of this home is prime, and offers a 2 car garage. Alarm adds extra security. This is truly resort style living at its best! | More Pictures ... Click on any picture to see it enlarged. | PRICE | More Options * Request more Info * Schedule a Showing * Loan Calculator * Map this Property Contact: Phoenix Homes Team
Phone: 602-404-9700
Email: info@PhoenixHomes.com | | $110,000 | | ADDRESS | | 2150 W ALAMEDA ROAD
Unit 1003
Phoenix, AZ 85085 | | HIGHLIGHTS | Style: | Spanish | Year Built: | 2008 | Square Feet: | 1380 Sq.Ft. | Lot Size: | 1445 Sq.Ft. | Bedrooms: | 3 | Bathrooms: | 3 | SCHOOL INFORMATION | School District: | 097 - Deer Valley Unified District | High: | Deer Valley High | Middle: | Deer Valley Middle | Elementary: | Esperanza Elementary - 85009 | DETAILS | Subdivision : | Villagio At Happy Valley Condominium | Architecture : | Spanish | Property Description : | Borders Common Area | Master Bathroom : | Double Sinks, Other (See Remarks), Full Bth Master Bdrm | Dining Area : | Eat-in Kitchen | Kitchen Features : | Dishwasher, Pantry, Kitchen Island, Disposal | Exterior Features : | Patio | Cooling : | Refrigeration | Features : | Fire Sprinklers, Vaulted Ceiling(s), Soft Water Loop, Other (See Remarks) | Level : | 2 | Lot Size : | 1 - 7, 500 | Ownership : | Fee Simple | Fencing : | Block | Parking : | Electric Door Opener | Builder Name : | DR Horton | Building Style : | 2-3-4 Plex | Spa : | None | Additional Bedroom : | Master Bdrm Upstairs | Energy Features : | Multi-Pane Wndws, Other (See Remarks) | Sewer : | Sewer - Public | Pool - Private : | No Pool | Water : | City Water | Tax Year : | 2010 | Taxes : | 1393 | Roofing : | All Tile | Fireplace : | No Fireplace | Other Rooms : | Den/Office, Great Room | Utilities : | APS | Heating : | Electric Heat |

PROPERTY IV 2150 W ALAMEDA ROAD Unit 1312 (Status: AWC - Active With Contingent) | MLS#: 4758636 | PRISTINELY MAINTAINED 3 BED/ 2.5 BATH IN HIGHLY SOUGHT AFTER VILLAGIO AT HAPPY VALLEY, GRANITE COUNTERS, MAPLE CABINETS, WALK-IN PANTRY, KITCHN ISLAND, OPEN FLOOR PLAN, MSTR W LARGE WALK-IN CLOSET. REFRIGERATOR DOES NOT CONVEY | More Pictures ... Click on any picture to see it enlarged. | PRICE | More Options * Request more Info * Schedule a Showing * Loan Calculator * Map this Property Contact: Phoenix Homes Team
Phone: 602-404-9700
Email: info@PhoenixHomes.com | | $109,000 | | ADDRESS | | 2150 W ALAMEDA ROAD
Unit 1312
Phoenix, AZ 85085 | | HIGHLIGHTS | Year Built: | 2008 | Square Feet: | 1479 Sq.Ft. | Lot Size: | 1197 Sq.Ft. | Bedrooms: | 3 | Bathrooms: | 3 | SCHOOL INFORMATION | School District: | 097 - Deer Valley Unified District | High: | Barry Goldwater | Middle: | Deer Valley Middle | Elementary: | Esperanza Elementary - 85027 | DETAILS | Subdivision : | Villagio at Happy Valley | Master Bathroom : | 3/4 Bath Master Bdrm, Double Sinks | Dining Area : | Breakfast Bar, Dining in LR/GR | Kitchen Features : | Built-in Microwave, Walk-in Pantry, Range/Oven Elec, Dishwasher, Cook Top Elec | Cooling : | Refrigeration | Level : | 3 | Lot Size : | Not Available | Ownership : | Condominium | Fencing : | Block | Builder Name : | DR HORTON HOMES | Spa : | None | Additional Bedroom : | Mstr Bdr Walkin Clst | Sewer : | Sewer - Public | Pool - Private : | No Pool | Water : | City Water | Tax Year : | 2011 | Taxes : | 1468 | Roofing : | All Tile | Fireplace : | No Fireplace | Utilities : | APS | Heating : | Electric Heat |

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...provide more efficient use of the client's growing resources, to improve net worth, to reduce income and estate taxes, and to increase after-tax cash flow. A fact-finding session helps us become totally familiar with your current financial situation, as well as your personal goals and priorities. Working from the comprehensive information gathered in the fact-finding session, a detailed financial plan is prepared which documents your current situation, identifies all areas that will be impacted, and makes specific goal-oriented recommendations. Recognizing our ever-changing tax environment, we also work to assure that you are positioned in the most effective manner relative to your personal tax situation. Each recommendation in our analysis is then thoroughly reviewed with you to confirm your understanding and support of each recommendation. If desired, we actively assist in the full implementation of every plan recommendation in conjunction with the other members of your financial advisory team. The following example is a combination of two actual cases that were completed during the 2002 calendar year. The following example provides a realistic example of some of the benefits that a financial plan can provide. Marke & Cher Daler In many financial planning cases, there are one or more variables that have a substantial impact on the results of the analyses. Sometimes these variables are unknown at the...

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...PA504 – Governmental and Nonprofit Accounting Case Study Week Two Questions (40 points) Please provide a page reference to the CAFR (not the pdf) for each response if applicable. 1. Who prepared the CAFR? The Metropolitan Government of Nashville and Davidson County’s Department of Finance prepared the CAFR. 2. What is the length of the CAFR? The Length of the CAFR is 307 pages. 3. Describe briefly the form of government for The Metropolitan Government of Nashville and Davidson County. According to page viii, On April 1, 1963 the governments of the City of Nashville and Davidson County were consolidated into a single "Metropolitan Government of Nashville and Davidson County", under which the boundaries of the City of Nashville and Davidson County are coextensive. The executive and administrative powers are vested in the Mayor, who is elected at large for a four-year term. The Mayor is authorized to administer, supervise and control all departments and to appoint all members of boards and commissions. They also have a Vice-Mayor, who is elected at large for a four year term and is the presiding officer of the Council. The Council is composed of 40 members who are elected for four-year terms. 4. What two service district governments are included within the CAFR? General Services District and Urban Services District are included in the CAFR. 5. What are the three basic sections of the CAFR? Introductory section, Financial section, and Statistical section...

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..."  During the 1920s, finance broke away from economics and became a discipline of its own.   Think of finance today as being applied economics.  In other words, economics provides the theory; finance takes that theory and applies it to real world situations. 2. Accounting is sometimes called "the language of business" and it is certainly true that it is a language that finance practitioners need to be familiar with.  Finance majors work with numbers generated by the accounting profession:  income statements, balance sheets, cash flow statements, etc.  Although  finance practitioners don't need to know the intricate details of how these numbers were determined, they do need to know enough accounting to properly use these numbers in an analysis of financial problems. 3. Management provides the communication and organizational skills that all finance personnel need.   Finance practitioners spend most of their day interacting with other people, so the ability to work effectively with others is crucial. 4. Marketing skills are increasingly important to finance people.  Banks want their officers to serve a lead role in business development (i.e., gaining new clients for the bank).   Stock brokers and mortgage bankers continually seek new clients.  Finance practitioners who are skilled at presenting themselves and their firms in the best light will thrive in a competitive marketplace. 5. Computer skills...

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...3-2 Week 2 Lecture: Analyzing Financing Activities Financial Statement Analysis Overheads from  K.R. Subramanyam textbook resources as  amended by F.Hui for FIN324 2016. CHAPTER Liabilities (including employee benefits), Equity And off balance sheet transactions Copyright © 2014 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 3-3 Overview of Chapter Companies operations are financed by various sources: • Liabilities • Capital (Stockholders’ Equity) • Off balance sheet transactions 3-4 Companies’ Financing Sources Liabilities Capital (Stockholders’ Equity) Off balance sheet transactions 3-5 Liabilities Liabilities Alternative Classification Important Features in Analyzing Liabilities • Terms of indebtedness (such as maturity, interest rate, payment pattern, and amount). • Restrictions on deploying resources and pursuing business activities. • Ability and flexibility in pursuing further financing. • Obligations for working capital, debt to equity, and other financial figures. • Dilutive conversion features that liabilities are subject to. • Prohibitions on disbursements such as dividends. Obligations that arise from operating activities--examples are accounts payable, unearned revenue, advance payments, taxes payable, postretirement liabilities, and other accruals of operating expenses Operating Liabilities Obligations...

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...financial section. The financial section involves the independent auditor’s report (which audited by the company of Cochran Head Vick & Co), the management’s discussion and analysis, basic financial statements such as government wide financial statements and fund financial statements, and the notes to the financial statements. The financial statement does contain two government wide financial statements which are the statement of net position (p15) and the statement of activities (p16) and seven fund financial statements. The management discussion and analysis section contains the overview of financial activities of the city of Topeka. C) What information is provided in the statistical section? The statistical section mainly provides information about the financial trends, debt capacity, revenue capacity and the economic information. Question - two basis of accounting The basis of accounting is used in the general fund is the general fund is the modified accrual basis. This information can be found on p 18 and p 29 of the CAFR. Because of the City of Topeka does have the long term liabilities and capital assets, this would cause the difference between the governmental funds and the governmental wide statement. By viewing the statement of revenues, expenditures, and changes in fund balances of governmental fund (page 19). We suppose...

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...Climate Protection Plan. * Others; Financial Policies, Internal Controls, Budgetary Control, Cash Management, Risk Management and Pensions. * Certificate of Achievement for Excellence in Financial Reporting. * Acknowledgements 3. A) Yes, the city received an unqualified audit opinion. B) Yes, the report contains management’s discussion and analysis. The key issues are: Financial Highlights, Overview of the Financial Statements, Financial Analysis of the Government-Wide Statements, Financial Analysis of the Government’s Fund Level Statements, and Other Information. C) The report does provide reconciliation between total governmental net assets per the government-wide statement of net assets and total governmental fund balances per the governmental fun balance sheet. The main reconciliation items are; capital assets that are capitalized on the government-wide statements but are not reported in the funds, Other long-term assets reported on the government-wide statements but not on the funds statement, internal service fund assets and liabilities reported on the government-wide statements but not on the funds statements and...

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