What is the difference in reporting exchange and a nonexchangetransaction?

• Distinguish between an exchange and a nonexchange transaction.Analyze the reporting requirements for nonexchange transactions under GASB Statement No. 33Accounting and Financial Reporting for NonexchangeTransactionsfocusing on the required criteria for reporting revenue on the modified accrual basis.
• Describe the circumstances under which a government entity must report a pass-through grant as both revenue and an expenditure.Examine the importance of accurately reporting pass-through grants on government entities.