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Government Wide Statements

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When is the Governmental Accounting Statements Board required to make government-wide statements?

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Solution Summary

Explains which GASB statements require government-wide accounting.

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Government agencies are required to present financial data on a government-wide scale according to GASB requirements. Agencies must show financial statements for the whole government system, not just one account. According to GASB regulations, agencies should use modified accrual accounting systems for their financial statements and include details to explain how they transition from the cash-based accounting systems ...

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