Question 1 Compare and contrast the Balance Sheet of Colgate-Palmolive with the Balance Sheet of the City of Dallas Governmental-Type Funds for 2020

Question 2

Compare and contrast the Income statement of Colgate-Palmolive with the City of Dallas Statements of Revenue, Expenditures, and Changes in Fund Balances for 2020

Show 2-3 three similarities in the overall financial statements of the two types of organizations.

Provide about 5-7 differences between the financial statements of both organizations.

Discuss the standards that support their financial statements and how their stakeholders are similar or different and their respective expectations regarding the financial statements.

Relate the structure and elements of these financial statements to the stakeholder expectations.

Discuss the motivations behind these financial statements.

Overall a) the fact that Colgate and Dallas city stakeholders have different interests or motives or goals - profits vs services.

Describe this as the differences in goals or objectives.

b) Based on this difference in interests, the financial reports are structured or constructed to meet this interest(s);

c) What is the nature of accounting used (Accrual vs Modified Accounting/Cash);

d) How about the nature, structure, and components of Financial reports produced (Audited CAFR vs Audited Annual Report);

e) How about the relevance or validity or otherwise of the type of accounting used

Note: This is a descriptive financial analysis; no data analysis is required. This question requires us to compare a governmental fund balance sheet and Statements of revenue, expenditures and changes in fund balance with the business equivalents in the for-profit sector.

CITY OF DALLAS, TEXAS BALANCE SHEET GOVERNMENTAL FUNDS