10.6

Question 1

daojfaaf

Answer 1

d

Question 2

what are the two parts of the reconciliation?

Answer 2

• measurement focus

- basis of accounting difference

Question 3

why are you reconciling the two parts of the GRASPP funds

Answer 3

because they have different measurement focuses and basis of accounting

Question 4

what are the measurement focus differences?

Answer 4

• capital assets

- long term debt

Question 5

what are the basis of accounting differences

Answer 5

• increasing revenue to show revenue earned

- recognizing expenses when incurred, rather than expenditure of current resources

Question 6

what balance sheet statements are you reconciling for government?

Answer 6

going from gov fund balance to gov wide net position

Question 7

what are the reconciliation items for balance sheet for government

Answer 7

start with total government fund balance

MEASUREMENT FOCUS
+Capital Assets
-Accum Depr
-Noncurrent Liabilities

ADJUST BASIS OF ACCOUNTING

• Eliminate deferred inflows added
• Accrued interest payable

CONSOLIDATING ENTRIES

• Add internal service fund net position
• Interfund Transfers

Question 8

what are the reconciliation items for the income statement for government?

Answer 8

start with net change in fund balance-total government funds

ADJUST MEASUREMENT FOCUS 
\+Capital outlay expenditures 
\+Principle payment on debt 
-Net book values of capital Assets 
-Debt proceeds- other financing sources 

ADJUST BASIS OF ACCOUNTING
+Revenue that is measurable but unavailable
Accrue Interest expense
Depreciation expense

CONSOLIDATION
+Internal service fund change in net position
Interfund Transfers

Question 9

What statements are you reconciling for government income statement

Answer 9

going from government fund statement of revenue expenditures and changes in fund balance to government wide statement of activities