1 / 14

What's at Stake?

What's at Stake?. The US Government’s Financial Statements and the Country's Fiscal Health. The role of CPAs . Serve as trusted advisors to a variety of organizations Help businesses and individuals achieve strong financial standing Protect the public interest

matty
Download Presentation

What's at Stake?

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. What's at Stake? The US Government’s Financial Statements and the Country's Fiscal Health

  2. The role of CPAs Serve as trusted advisors to a variety of organizations Help businesses and individuals achieve strong financial standing Protect the public interest Explain complex financial issues Today: US Government’s Financial Statements

  3. Budget

  4. Financial statement

  5. 2011 Financial Statements

  6. 2011 Financial Statements

  7. U.S. financial statements differ from other organizations Most financial statements show obligations or liabilities on balance sheet US government’s financial statements do not include Social Security and Medicare • Footnote disclosures • Not reflected as liabilities

  8. Reality of future obligations These future obligations equal: $46.3 trillion in additional deficit Plus $14.8 trillion cumulative deficit Total deficit: $61 trillion deficit $61 trillion is the equivalent of: Every household in America owing the full cost of two new homes and not getting to live in them

  9. Key data in publicly traded company’s financial statements

  10. Accumulated deficit In trillions 2009 2010 2011 2012

  11. What’s next

  12. (Optional) (Add information about what you, your firm and/or your state society is doing in this area)

  13. Thank you

  14. What's at Stake? The US Government’s Financial Statements and the Country's Fiscal Health

More Related