Share
Explore BrainMass

Government-wide financial statements

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?

$2.19