Chapter 8 Government-wide Financial Statements

Conceptual Questions

1. With regard to the government-wide statements, indicate the measurement focus and basis of accounting that should be employed.

2. With regard to the government-wide statements, indicate the three categories of Net Position that should be reported and describe what would be put into each category.

3. With regard to the government-wide statements, distinguish between program revenues and general revenues. List three examples of each. What is the difference in reporting between program revenues and general revenues?

4. What conditions must be satisfied in order to use the modified approach for recording infrastructure?

5. When preparing government-wide financial statements, the modified accrual based governments funds are adjusted. List 5 items involving long-term debt that are likely to require adjustments.

6. When preparing government-wide financial statements, the modified accrual based governments funds are adjusted. List 4 items involving capital assets that are likely to require adjustments.