P R 305S Lecture 2: Notes 01.29.20

Promissory notes that require the issuer to make a series of payments consisting of both interest and principal are:

a. Investment notes.

b. Installment notes.

c. Debentures Discounted notes.

d. Indentures

How are notes created using the notes pane?

P15-1

(Notes to the Financial Statements) Obtain a recent CAFR or theBasic Financial Statements of a state or local government(SLG).

Required

Study the Basic Financial Statements and related notes, make acopy of or prepare a table of contents to the notes, and answer thefollowing questions from a note disclosure perspective:

1.What information can one learn about the state or localgovernment from the notes that is not apparent from the face of thefinancial statements?

2.Pretend there were no notes. To what extent would the BasicFinancial Statements be less useful? Why?

3.Which notes did you find the most interesting and useful?Why?

4.Which notes did you consider less useful? Why?