he cornerstone of all financial reporting in government. Also, requires the government to answer to the citizenry. A term used in GASB 34 to describe required governmentwide and fund financial statements. The government's annual report that provides financial information beyond the general purpose external financial statements. Accountability Basic Financial Statements CAFR When resources have restrictions placed on them that specify how they are to be used or when they can be used set by the donor. [Choose] Accounting standard setting body that recommends federal governmental accounting and financial reporting standards to the US Comptroller General, Secretary of Treasury and Director of Office Management and Budget. [Choose] Accounting standard setting body that establishes standards of financial accounting to organizations in the private sector and private Non Profit Organizations. [Choose ] Focuses on short term flow of current financial resources and shows the current period financial position. [Choose ] Assesses whether government raises and spends resources according to plan. One of categories for the basic financial statements that assists in fiscal accountability. [Choose] Provides many categories of service to their residents such as states, counties and municipalities. Typical services include public safety, road maintenance, health and welfare. Choose] The body of accounting and financial reporting standards, conventions, and practices that organizations follow. [Choose ] Accounting standards setting body that establishes the financial reporting standards for state and local governments and governmental Non profit organizations. [Choose] government's net [Choose ] Designed to provide a highly aggregated overview of the postion and results of financial activities. (They report on the government as a whole.) Concept that shows whether resources were used efficiently and effectively and whether current year revenues were sufficient to pay for the services provided in the current year or if the burden for those services will be shifted to future taxpayers. [Choose] An easy to read narrative that gives an analysis of the government's financial performance for the year and it's financial position at year end. [Choose ] Revenues are recognized in the period they are measurable and available for spending and expenditures(not expenses) are recognized when they create an obligation to be paid from current financial resources. [Choose] Information that is useful in assessing operating results and both short term and long term financial position. Focus comes from an economic perspective. [Choose ] A report required to be prepared by major federal departments. It includes the annual reports. [Choose ] Additional information required by GAAP to be included with the audited annual financial statements. [Choose] A measurement tool to provide more complete information about a governmental entity's performance that can be measured by resource consumed, tasks performed or goals attained. [Choose] Government that only provide a single function or a limited number of functions. They have the power to levy and collect taxes. [Choose]