Answer question regarding accounting

Once you have accessed the Annual Report, please read, analyze and discuss the following questions as they relate to the State of California.

1. Discuss how well the State is performing financially. Include in your discussion liquidity, performance and overall evaluation. Please use all tools available to you to perform this financial analysis.

2. Describe and discuss the major programs and functions of the State. Include in your discussion which funds the programs and functions are included in.

3. Which accounting policies are the most significant and important relative to the Financial Reports, in your opinion? Properly support your response.

4. Discuss the financial issues you have noticed in the Annual Report that will be most relevant and significant within the next 10 years. Properly support your rationale.