In government financial reporting, operating statements are crucial components that provide insights into an entitys financial health and performance. Conduct research into the role and significance of government operating statements, including the balance sheet, income statement, and cash flow statement.

In your initial post, share at least two scholarly works you found in your research, highlighting the best practices and challenges associated with preparing and presenting government balance sheets, income statements, and cash flow statements. What are the main areas of concern and debate within the literature regarding these financial statements? In your post, be sure to make clear how government operating statements differentiate from their counterparts in the private sector.