QUESTION 24 GAAP for state and local governments requires them to report some of their activities twice, using two different methods. They must provide government-wide statements using one method of accounting, and they provide statements for governmental funds using a different method of accounting. This question focuses on WHY this is done. What is helpful to financial statement users about the method of accounting used in the government-wide statements? (Your answer should indicate what method is used, and explain at least one way in which this is helpful in giving users something they want.) (4 points)

QUESTION 24 GAAP for state and local governments requires them to report some of their activities twice, using two different methods. They must provide government-wide statements using one method of accounting, and they provide statements for governmental funds using a different method of accounting. This question focuses on WHY this is done. What is helpful to financial statement users about the method of accounting used in the government-wide statements? (Your answer should indicate what method is used, and explain at least one way in which this is helpful in giving users something they want.) (4 points)