Governmental Accounting (Part B) Flashcards
(39 cards)
Operational accountability is achieved through the ____________ financial statements
government-wide
Fiscal accountability is achieved through the __________ financial statements
fund
The integrated approach requires a __________ of the fund financial statements to the gov-wide financial statements to link the accountability objectives of the two levels of reporting
reconciliation
The management’s discussion and analysis comes _____ the F/S and is ______
before; required
MD&A is a ________ analysis
narrative
The gov-wide financial statements include the statement of ____ ________ and statement of _______
net position; activities
The fund financial statements show major funds _________ and the nonmajor funds are shown in ______
individually; total
The notes to the financial statements are included in the _______ financial statements section
basic
Required supplementary information is _____ the F/S
after
Other supplementary information is __________
optional
A statistical section is __________
optional
State governments, general purpose local governments, special purpose local governments that have a separately elected governing body, is legally separable, and is fiscally independent are:
primary government entities
A unit of the primary government that is usually an organization for which the elected officials of the primary government are financially accountable
component unit
A component unit will use the blended presentation when the board of the component is substantively the ______ as that of the primary gov, or the component unit services the primary gov ______ or almost, or the component unit is not a _______ legal entity
same; exclusively; separate
______ presentation is used when the criteria for blended presentation is not met (most common)
discrete
Private foundations associate with state universities and private foundations association with public health care facilities are not-for-profits that are reported as a _____ ______ of government
component unit
The benefit standard, access standard, and significance standard are the criteria for _______ presentation
discrete
An analysis of significant variances is included in:
MD&A
_______ funds are excluded from gov-wide financial statements
Fiduciary
Assets - liabilities =
net position
3 components of net position:
RUN
restricted, unrestricted, net investment
Infrastructure assets should be recoded as _____ _____ assets
general capital
All assets meeting capitalization requirements should be recorded and _______.
depreciated
Infrastructure assets that are part of a network or subsystem of a network are __________ to be depreciated
not required