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Prepare a financial analysis report to evaluate the financial performance of the U.S. government. After visiting the Government Accountability Office and then locate and read
Prepare a financial analysis report to evaluate the financial performance of the U.S. government. After visiting the Government Accountability Office and then locate and read a recent financial audit report for the consolidated financial statements of the U.S. government.
Your report should include answers to the following questions:
- What type of auditors opinion is issued by the GAO?
- Are there any internal control material weaknesses or significant deficiencies? If yes, provide a brief summary of these deficiencies.
- Is there any restatement for the most recent financial statements? If yes, provide a brief explanation.
- Are there any fiduciary activities? If yes, provide examples.
- What are the net cost and the gross cost for a 2-year period?
- What is the U.S. governments budget deficit for two years?
- What are the sustainability measures? Provide examples.
- What are the components of the U.S. federal governments assets?
- What is the federal debt for 2 years?
- Compare the U.S. governments net position for the most recent two years.
- Compare taxes (by type) for the most recent 2 years.
- Evaluate the financial performance of the social security program.
- Perform ratio analysis for the statement of net cost, balance sheet, and the statement of social insurance. Your analysis should include at least two ratios for each statement.
- Provide a valid conclusion on the financial health of the US federal government.
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