in a regional public accounting firm that conducts a number of governmental audits and consulting engagements. The finance director of a large metropol- itan city has asked you for assistance in determining whether it should use the modified approach or depreciate its infrastructure assets. The city is particu- larly interested in which accounting approach other large metropolitan cities have chosen. Required a. Examine several comprehensive annual financial reports (CAFRS) of large cities. Create a table that lists the cities and the methods they have chosen to report their general infrastructure assets. b. Prepare a memo to your client summarizing the results of your research. Be sure to address the finance director's specific concern about what other large cities are doing with respect to reporting of infrastructure assets.

in a regional public accounting firm that conducts a number of governmental audits and consulting engagements. The finance director of a large metropolitan city has asked you for assistance in determining whether it should use the modified approach or depreciate its infrastructure assets. The city is particularly interested in which accounting approach other large metropolitan cities have chosen. Required a. Examine several comprehensive annual financial reports (CAFRs) of large cities. Create a table that lists the cities and the methods they have chosen to report their general infrastructure assets. b. Prepare a memo to your client summarizing the results of your research. Be sure to address the finance director's specific concern about what other large cities are doing with respect to reporting of infrastructure assets