A memo explaining the annual reporting requirements for Mountainville.

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.      

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