CAFR (part of Governmental) Flashcards

0
Q

What are the basic FS?

A
  1. Govt wide FS
    • accrual
    • NO fiduciary funds
    • DONT display ind funds or fund types
  2. Fund FS
  3. Notes to FS
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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
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2
Q

3 sections of CAFR

A
  1. Intro
  2. Financial
  3. Statistical - supplementary
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3
Q

What are the govt wide FS?

A
  1. Statement of Net Pos

2. Statement of Activities

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4
Q

What SCF is required?

A

Proprietary fund SCF

Direct method for op act

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5
Q

What are the fiduciary fund FS?

A
  1. Statement of Net Pos
  2. Statement of Changes in Net Pos
    (Not req’d for agency funds)

**remember, NO fiduciary fund FS in basic FS

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