Discussion

User Generated

pc26380

Business Finance

Description

Review GASB Statement 34. In your initial post:

  • Discuss the major contents of the fund financial statements and government wide financial statements. Address why those statements are necessary in the government annual report.
  • Specify what government financial statements are required to be included in the annual report. Then, compare and contrast the major contents of a selected fund financial statement or a government wide financial statement to a similar financial statement prepared under GAAP.
  • Compare and contrast the users, objectives, contents and format of the government financial statement you selected and its GAAP counterpart.

User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Explanation & Answer

Thanks a lot for the offer. Expect great work
Its great to work with you.Am looking forward to work with you, remember to invite me next timeThank you

1

Running Head: GASB statements 34

Government Funds
Institution Affiliation
Instructors Name
Students Name
Course Name
Unit Code
Date

GASB statements 34

2

Discuss the major contents of the fund financial statements and government wide financial
statements

Fund financial statements are in addition to government financial statements. They
provide additional details concerning the primary government financial statements. Fund
financial statements comprise two types of statements which are governmental funds financial as
well as proprietary fund. The contents of the government fund statements are a statement of
revenues and expenditures, statement of changes in fund balances and a balance sheet.
Proprietary fund statements contain four statements which are a statement of; cash flows,
revenues and expenses, net assets and lastly a statement of changes in fund net assets. Also
included in the contents of fund financial statements is a ...


Anonymous
I use Studypool every time I need help studying, and it never disappoints.

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4

Related Tags