adjective. Affecting or involving all areas and departments of a government. ‘a government-wide spending review’
Which of the following make up the government-wide financial statements?
Which of the following are financial statements reported by the governmental funds to be found within the fund financial statements? Balance sheet and statement of revenues, expenditures, and changes in fund balance. A monetary amount is reported by governmental activities in government-wide financial statements.
Which of the following is a governmental fund?
Governmental funds include the General, special revenue, debt service, capital projects, and permanent. 93.
Which of the following is true regarding the composition of the Comprehensive Annual Financial Report CAFR?
Which of the following is true regarding the composition of the Comprehensive Annual Financial Report (CAFR)? The CAFR is to include both blended and discretely presented component units.
Is it government-wide or government-wide?
Extending throughout a government.
What should be the government-wide financial statements report on and why?
The government-wide statements bring the financial activity together in one place and report accrual-based economic resources information. The government-wide statements organize information by whether it relates to governmental activities or business-type activities.
Which of the following is included in required supplementary information RSI )?
Required Supplementary Information (RSI) Required supplementary information consists of statements, schedules, statistical data, or other information that GASB has determined is necessary to supplement, although not required to be a part of, the general purpose financial statements of a governmental entity.
When preparing government-Wide statements depreciation expense must be eliminated?
When preparing government-wide statements, depreciation expense must be eliminated. : A worksheet entry is required to record depreciation expense on capital assets of governmental activities. 23.
On what do the government-wide financial statements report?
The governmental fund financial statements are intended to report on fiscal accountability.
What is the purpose of the government-wide financial statements?
The purpose of government-wide financial statements is to present the financial position and the operating results of the governmental entity as a whole.
What are the two types of government-wide financial statements?
Two main aspects of government-wide financial statements are the financial statement and the statement of net assets. The financial statement shows the revenue collected and the amounts that the government spent.
What is the most costly governmental function or program operated by the government?
What is the most costly governmental function or program operated by the government? The most costly governmental program is the Public Safety – Police at a cost of $412,571. How much of the cost of governmental activities was borne by taxpayers in the form of general revenues?
A government-wide financial statement is a detailed summary of all the major government funds, what they have spent, and how much money they have left. This statement shows in detail each aspect the government has spent money on and how much money is left, if any.
Governmental funds include the General, special revenue, debt service, capital projects, and permanent. 93. Level “A” GAAP for Cook County Hospital, a public hospital, would be established by the: Governmental Accounting Standards Board.
What is the rule for determining whether a governmental fund other than the General Fund is a major fund?
A fund is considered major if its revenues, expenditures, assets, or liabilities exceed 10% of the total governmental fund categories and if the same element (revenues, expenditures, assets, or liabilities) exceeds 5% of the governmental and enterprise funds combined are true.
What should be the government-wide financial statement report on and why?
Which function or program has the highest net cost?
Investment in capital assets has the highest net cost What kinds of general revenues are available to cover the net cost of governmental activities?