CAFR (part of Governmental) Flashcards
0
Q
What are the basic FS?
A
- Govt wide FS
- accrual
- NO fiduciary funds
- DONT display ind funds or fund types
- Fund FS
- Notes to FS
1
Q
Major fund determination
A
10% total of: 1. Assets & def outflow of resources 2. Liab & def inflow 3. Rev 4. Exp/expend AND at least 5% of above for all govt & enterprise funds combined
- NA for internal service fund
2
Q
3 sections of CAFR
A
- Intro
- Financial
- Statistical - supplementary
3
Q
What are the govt wide FS?
A
- Statement of Net Pos
2. Statement of Activities
4
Q
What SCF is required?
A
Proprietary fund SCF
Direct method for op act
5
Q
What are the fiduciary fund FS?
A
- Statement of Net Pos
- Statement of Changes in Net Pos
(Not req’d for agency funds)
**remember, NO fiduciary fund FS in basic FS