Organizations included as part of the governmental reporting entity.

Financial reporting by fund type required for state and local governments, characteristics of funds.

Journal entries for recording the budget, which accounts and debited and credited; identify the budgetary accounts.

Modified accrual basis required for which funds of state and local governments, and rules of modified accrual accounting.

Distinguishing difference between governments and not-for-profit organizations.

Identify general revenues.

Journal entries for payment of principal and interest in both the debt service fund and governmental activities.

Know where the proceeds of a bond issue, and the bond liabilities are recorded and how to calculate and record bond interest expense.

Required financial statements for debt service fund.

Journal entries for purchase of supplies, billing of customers, and establishment of internal service fund.

When internal service fund it used (for what type of activities), required financial statements for internal service fund, and basis of accounting.

Agency funds:method of accounting, type of activities accounted for in agency fund, where reported on Govt Wide activities financials, how pension costs are reported.

Terminology:debt margin, debt limit, overlapping debt, net pension liability.