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Future Accounting Standard Changes(Continued) <br /> How the Changes in This Statement Will Improve Accounting and Financial Reporting <br /> This Statement will increase the usefulness of governments'financial statements by requiring reporting of certain Move <br /> liabilities that currently are not reported. It will enhance comparability of financial statements among governments by <br /> requiring lessees and lessors to report leases under a single model.This Statement also Wil enhance the decision- <br /> usefulness of the information provided to financial statement users by requiring notes to financial statements related to the <br /> timing,significance, and purpose of a government's leasing arrangements. <br /> (1)Now. From GASH Pronouncements Summaries. Copyright 2017 by the Financial Accounting Foundation, 401 Merritt 7, <br /> Norwalk, CT 06856, USA, and is reproduced with permission. <br /> Restriction on Use <br /> This communication is intended solely for the information one use of the City Council, management and the Minnesota <br /> Office of the State Auditor and is not intended and should not be used by anyone other than those specified parties. <br /> Our audit would not necessarily disclose all weaknesses in the system because it was based on selected tests of the <br /> accounting records and related data.The comments and recommendations in the report are purely constructive in nature, <br /> and should be read in this context. <br /> If you have any questions or wish to discuss any of the items contained in this letter, please feel free to contact us at your <br /> convenience.We wish to thank you for the continued opportunity to be of service and for the courtesy and cooperation <br /> extended to us by your staff. <br /> 011�A 4"ILL? <br /> It <br /> ABDO, EICK&MEYERS, LLP <br /> Minneapolis, Minnesota <br /> June 8,2018 <br /> lleopk- <br /> + tx-ss <br /> 'oillg <br /> 23 111f,ben, <br /> N <br /> 166 <br />