Deriving Government-Wide Financial Statements and Reconciliation Requirements

Free CPA BAR (Business Analysis & Reporting) lesson in State and Local Governments. 17 min read, ~2,576 words.

Governmental funds use modified accrual (current financial resources); government-wide statements use full accrual (economic resources). Capital outlays are expenditures in fund statements but capitalized assets in government-wide; add accumulated depreciation adjustment. Long-term liabilities (bonds payable, compensated absences, net pension liability) appear only in government-wide statements; debt proceeds are revenue in...

What this lesson covers

• Content
• Example 1
• Example 2
• Common Mistakes
• Key Takeaways
• Exam Shortcuts

Learning objectives

• III.B1

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