Financial Reporting: The Basic Financial Statements ...

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Financial Reporting: The Basic Financial Statements & required supplementary InformationChapter 13Learning Objectives Identify a government s Basic Financial Statements Understand format and content of government-wide Financial Statements and fund Financial Statements Understand the concept and content of RSI Identify a government s major funds and how to prepare fund Financial Statements Distinguish program revenues from general revenues Understand unique reporting provisions of infrastructure capital assets Understand required information components of MD&A Understand types of notes to Financial Statements Understand reporting requirements of special purpose governmentsMajor Elements of Principle #13 Interim Financial Statements & reports Comprehensive Annual Financial Report (CAFR) Minimum reporting requirements MD&A Basic Financial Statements (BFS) required supplementary information Financial reporting entity Nucleus of a Financial reporting entityInterim Financial Statements Encouraged, but not required Prepared to facilitate management s control of the government, legislative oversight, and [occasionally] external Financial reportingComprehensive Annual Financial Report Should be prepared and published Covers primary government (including blended component units) and discretely presented component units Includes: Introductory Sect

Financial Reporting: The Basic Financial Statements & Required Supplementary Information ... analysis Required supplementary information

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