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The CAFR for governments is important document. a. What is a CAFR? What are its main components? b. What is GAAP? c. What is the

The CAFR for governments is important document.
a. What is a CAFR? What are its main components?
b. What is GAAP?
c. What is the purpose of GASB and what is its role with the CAFR?
d. Distinguish between cash, accrual and modified accrual accounting?
e. What is the definition of funds for governmental accounting?
f. Why is fund balance important?

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