Government-wide Financial Statements

Free CPA BAR (Business Analysis & Reporting) lesson in State and Local Governments. 18 min read, ~2,647 words.

Government-wide statements use the economic resources measurement focus and full accrual basis, reporting all assets, liabilities, revenues, and expenses regardless of when cash flows. Two required statements: Statement of Net Position (balance sheet format) and Statement of Activities (operating statement showing net cost by function). Activities split: governmental activities (tax-supported)...

What this lesson covers

• Content
• Example 1
• Example 2
• Common Mistakes
• Check Your Understanding
• Exam Shortcuts

Learning objectives

• III.A1

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