Government Accounting & Financial Statement and Financial Condition Analysis

Skim: Ch. 12 & Ch. 13

Reading: Ch. 14 & Ch. 15

https://mail.google.com/mail/u/1/#search/ben/FMfcgzGllMDRGXLMTmZdxBzRjNRKxJnF?projector=1&messagePartId=0.1

1) What concepts from this week's unit proved helpful in understanding the Illinois pension system case study?

2) What factors contributed to the underfunding of the IL's pension system?

3) How big a hole does IL face according to the state under applicable accounting rules? Is this estimate realistic?

4) By using the financial statements offered in the case, what broad comments can you make about the organization's well being?

5) f you were hired as a consultant for the pension, what 2 recommendations would you like to share with the Governor?