Federal Accounting and Reporting
Hey bro, we have done with part 1, and now part 2 is due, please check the graded Excel file with all. the correction for the instructions
Please read the following instructions carefully. For Part 1 of this case study, you prepared journal entries and statements for initial funding and the 1st quarter, For Part 2, you will prepare journal entries and financial statements reflecting activity for the remainder of the year. As required for Part 1, you will replicate the journal entries and related statements for the Department of Monitoring Case Study (quarters 2, 3, 4, and year-end) found in CGFM Study Guide Volume 2, pp. III-175-193. You may/should review these pages as much as you would like in advance of completing the exercise, but please complete the journal entries and statements ON YOUR OWN. I would also highly recommend reviewing the preceding/related material in the Study Guide as well as the lecture videos.
For Part 2, please START with your CORRECTED spreadsheet from Part 1, and then prepare the journal entries and related statements quarters 2, 3, and 4 (pp III-186-193). When you are ready to begin both exercises, please refer ONLY to the attached Case Study document – which reproduces the Study Guide content, but without the journal entries, statements, etc. Please prepare these entries and statements in the attached Excel file – again, using ONLY the pdf document for reference. Also – please prepare your financial statements ONLY by using formulas back to the corresponding journal entries (and formulas to derive totals). DO NOT hard-enter any numbers in your statements. If done correctly, you should be able to construct your statements from a combination of your journal entries. I have provided a listing of all of the possible journal entry titles and created a very basic template. You do the rest.
Please attempt this without help from the Guide once you have studied the Guide solution, and refer to the CGFM materials only afterwards for validation. Please submit your pre-validated Excel file to me to complete the assignment. Please correct your Part 1 entries/statements after viewing the case study review video materials and before submitting Part 2 during Week 4. You are welcome to work together on this, but I expect each individual to submit their own spreadsheet file. I am looking for a good faith effort to create the entries and statements.
The Excel file contains 4 tabs – Tab 1 lists the journal entry titles and provides space for t-accounts, or whatever you want to use as worksheets. These are not required for submission, but could be useful in determining partial credit. Tabs 2, 3, and 4 align with the major components of the case study – where you will provide journal entries and statements for each. These are required. Please read the instructions carefully. You are welcome to format (e.g. ,add/delete columns/rows, adjust column/row size, etc as you see fit (just don’t inadvertently delete any of the potential line item titles, which I have provided at each tab for easy reference.
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