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Government financial statements

BAR Chapter 21 · Area III · Blueprint III.A.1–4

A city reports to its taxpayers, its bondholders and its council, and it does so through two lenses at once: government-wide statements that look like a business, and fund statements that track spendable money. The Blueprint asks you to recall the concepts behind each set of statements and to prepare the government-wide, governmental fund, proprietary fund and fiduciary fund statements from trial balances. We follow the City of Riverton, where Dana is finance director and Leo has just joined the finance team.

In this chapter

1. Two lenses on one city
2. The government-wide statement of net position
3. The statement of activities
4. Governmental fund statements
5. Proprietary fund statements
6. Fiduciary fund statements

This chapter has 6 lessons, 50 practice MCQs with explanations and 15 simulations, plus flashcards and a recall sheet.

What this chapter covers

• Government-wide, governmental fund, proprietary fund and fiduciary fund statements

Chapter 20: Employee benefit plan financial statements · Chapter 22: Other parts of the ACFR