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Deriving the government-wide statements

BAR Chapter 23 · Area III · Blueprint III.B

Most governments keep their books on the fund basis all year, then convert at year end to build the governmental activities column of the government-wide statements. The Blueprint asks you to prepare the conversion worksheet and the two reconciliations that sit beside the governmental fund statements: total fund balances to net position, and net change in fund balances to change in net position. Leo builds Riverton's year 3 conversion one adjustment at a time.

In this chapter

1. From funds to governmental activities
2. Capital assets in the conversion
3. Long-term debt in the conversion
4. Revenues in the conversion
5. Expenses that use no current resources
6. Internal service funds and eliminations
7. The two reconciliations

This chapter has 7 lessons, 50 practice MCQs with explanations and 20 simulations, plus flashcards and a recall sheet.

What this chapter covers

• Conversion worksheets
• reconciling fund balances to net position

Chapter 22: Other parts of the ACFR · Chapter 24: Net position and fund balances