You are the Comptroller of Mountainville. Mayor Richards asks you to draft
a memo explaining the annual reporting requirements for Mountainville.
Include in your memo a discussion of the following topics:
●
The four parts of the Annual Report
●
An Explanation of the Main and Component Units
●
Acceptable inclusion methods for component units
●
The tests for determining major funds
●
Financial reporting requirements for Internal Services and Fiduciary
Funds.
