General and Proprietary Long-Term Liabilities

Free CPA BAR (Business Analysis & Reporting) lesson in State and Local Governments. 18 min read, ~2,656 words.

General long-term liabilities (bonds, notes, leases, compensated absences, pensions, OPEB) appear only in the governmental activities column of the government-wide statement of net position, never in governmental fund statements. Proprietary fund long-term liabilities appear both in the proprietary fund statements and in the business-type activities column of the government-wide statements...

What this lesson covers

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

Learning objectives

• III.C4

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