ACC 548 Week 6 Federal Budgeting and Accounting (Paper and PPT) Updated
Review the federal budget and the budget tables for the U.S. federal government.
Prepare an 8- to 10-slide Microsoft® PowerPoint® presentation focusing on the federal budget for fiscal year (FY) 2015. Answer the following :
What are the total revenues and expenditures projected for FY15 (Table S-1)
Is the FY15 budget projecting a surplus or a deficit in spending, and by how much (Table S-1)
What are the key sources of revenue for the federal government (Table S-5)
What are the primary expenditures for the federal government? (Table S-5)
What is the current national debt?
How much is the national debt per citizen and per taxpayer. Is this a problem? Why? Why not?
How can the Federal government reduce the national debt? Keep your ideas realistic.
Prepare a paper of no more than 700 words that addresses the following topics :
What roles do accountants play in managing government and not-for-profit organizations?
How are government and not-for-profit organizations audited? Be sure to include the different types of audits.
Describe the Single-Audit Act and how it impacts government financial reporting and accounting