Describe what government-wide statements are intended to convey to readers and contrast that with fund financial statements.
Note: Cite the sources
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 ...
Government Statements are discussed very comprehensively in this explanation..