How do government-wide financial statements add information not available in fund financial statements?
Solution Preview
"In government wide financial statements, all governmental and business type activities are consolidated into columns which add to a total for the primary government. These statements combine governmental funds' current financial resources with capital assets and long-term obligations. These statements also present total column for the business-type activities of the primary government."
The government wide financial statement, which is prepared using accrual accounting, not only measures current assets and liabilities but also longer term ...
Solution Summary
How do government-wide financial statements add information not available in fund financial statements?
Explain the measurement focus and basis of accounting used in preparing the two government-wide financial statements and the governmental fund financial...
... a presentation, the content of which includes explaining the process by which fund financial statements are converted to government-wide financial statements. ...
... funds is narrower than that of the government wide financial statements it is ... presented for governmental activities in the governmentwide financial statements. ...
... The website says that government-wide financial statements use the accrual basis of accounting and use the economic resources measurement focus. ...
... What is a governmental reporting entity? (1) First of all, fund financial statements are the necessary foundation for the Government-Wide Financial Statements. ...
... a. A reconciliation between proprietary fund financial statements and the business-type activities column of the government-wide financial statements b. A ...
