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Unformatted text preview: Governmental Funds Reconciliation Proprietary funds (Internal Service, Enterprise) Full Accrual Economic resources focus Statement of Net Assets-Proprietary Funds Statement of Revenues, Expenses, and Changes in Fund Net Assets-Proprietary Funds Statement of Cash Flows-Proprietary Funds Fiduciary Funds (Agency, investment Trust, Pension Trust, Private Purpose Trust) Assets and Liabilities only Full Accrual Economic resources focus Statement of Fiduciary Net Assets Statement of Changes in Fiduciary Net Assets Comprehensive Annual Financial Reports (CAFRs) are not required by GAAP. Reporting entities consist of the primary government and any component units ( reported either by blending or discrete presentation). Fund – separate fiscal and accounting entity with self balancing set of accounts. The General Fund is always a major fund. Capital assets and long-term liabilities: distinguish between general and those specific to proprietary and fiduciary funds...
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- Spring '10
- Generally Accepted Accounting Principles, fiduciary net assets