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With Regard To The Comprehensive Annual Financial Report
With Regard To The Comprehensive Annual Financial Report
With Regard To The Comprehensive Annual Financial Report
b. List the government-wide statements. Indicate the measurement focus and basis of accounting
used for the government-wide statements.
c. List the governmental fund statements. Indicate the measurement focus and basis of
accounting used for the governmental fund statements.
d. List the proprietary fund statements. Indicate the measurement focus and basis of accounting
used for the proprietary fund statements.
e. List the fiduciary fund statements. Describe the measurement focus and basis of accounting
used for the fiduciary fund statements.
Governmental Accounting
State and Local Governments use Governmental Accounting standards to prepare their financial
statements. Provided rules and standards by GASB, governmental accounting provides
transparency to the financial information presented by local municipalities and helps citizens
make an educated decision regarding the expenditures of their tax dollars.
b. List the government-wide statements. Indicate the measurement focus and basis of
accounting used for the government-wide statements.
Government-wide statements include the Statement of Net Position and the Statement of
Activities.
The measurement focus is on Economic Resources
It uses Accrual-Based Accounting
c. List the governmental fund statements. Indicate the measurement focus and basis of
accounting used for the governmental fund statements.
This section of the statements include the Balance Sheet and the Statement of Revenues,
Expenditures, and Changes in Fund Balance.
The measurement focus is on Current Resources
It uses Modified Accrual-Based Accounting
d. List the proprietary fund statements. Indicate the measurement focus and basis of
accounting used for the proprietary fund statements.
This section of the statements include the Statement of Net Position, Statement of
Revenues, Expenses, and Changes in Fund Net Position, and the Statement of Cash
Flows
The measurement focus is on Economic Resources
It uses Accrual-Based Accounting
e. List the fiduciary fund statements. Describe the measurement focus and basis of
accounting used for the fiduciary fund statements.
This section of the statements include the Statement of Fiduciary Net Position and the
Statement of Changes in Fiduciary Net Position.
The measurement focus is on Economic Resources
It uses Accrual-Based Accounting
RSI includes: