Question

What are the most important information needs that a governmental annual report should fulfill for each of the following: __________1. Administrators/managers in the governmental entity. 2. Members of the legislative branch. 3. Interested citizens. 4. Creditors or potential creditors.

Answer 1

Answer:

1. Compensation for employment services that they offer.

2. Disbursement in sufficient proportions of the available funds.

3. How the government have used their tax money.

4. The ability and capacity of the government to honor debts.

Explanation:

Each stakeholder to the governmental annual report hold a different need compared to the other. Therefore it is important to pay attention to whom the financial statements speaks to. The above shows the different needs of the stakeholders to  governmental annual report.