Accounting Question

The U.S. Constitution mandates that “a regular statement and account of the receipts and expenditures of all public money shall be published from time to time” by the federal government (Article I, Section 9, Clause 7).

Two centuries after the publication of the U.S. Constitution, it is still difficult for the federal government to issue financial statements. In this assignment, you examine the U.S. federal government’s financial statements to explore the differences in these statements from other governmental financial statements and the reasons that necessitate these differences.

Instructions

Write a 3-5 page paper in which you address the following:

Discuss three unique characteristics of the federal government that necessitate special accounting and reporting practices, presenting one example for each characteristic.

After reviewing the most recent federal government financial statement of the

Financial Report of the United States GovernmentLinks to an external site.

, explain the type of audit performed, the audit opinion issued, and the auditor’s reason for that opinion.

Use at least three quality sources to support your writing. Choose sources that are credible, relevant, and appropriate. Cite each source listed on your source page at least one time within your assignment. For help with research, writing, and citation, access the

library

or review

library guides

.

This course requires the use of Strayer Writing Standards (SWS). The library is your home for SWS assistance, including citations and formatting. Please refer to the

Library site

for all support. Check with your professor for any additional instructions.

The specific course learning outcomes associated with this assignment:

Review the Financial Report of the United States Government to explore the distinctive financial reporting required for the federal government.