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Describe GASB requirements for accounting for investment pools. Include (a) a discussion of when the use of investment trust fund or a custodial fund is
Describe GASB requirements for accounting for investment pools. Include (a) a discussion of when the use of investment trust fund or a custodial fund is appropriate; (b) the portion of the investment pool to be included and excluded from fiduciary funds; (c) the basis at which investments are to be reported; (d) reporting of realized and unrealized gains and losses on investments; and (e) financial reporting (i.e., financial statements).
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