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Government Statements

Describe what government-wide statements are intended to convey to readers and contrast that with fund financial statements.

Note: Cite the sources

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GOVERNMENT WIDE STATEMENTS are used by local governments for recording of expenditures on accrual basis.

FUND-SPECIFIC FINANCIAL STATEMENTS are prepared by governments for recording expenditure by fund in the fiscal year/period in which they occur.

The basic difference is ...

Solution Summary

Government Statements are discussed very comprehensively in this explanation..