Copley政府与非营利组织会计10版Chapter1 PPT.pptVIP

Very Important Very Important Important More Implications of Modified Accrual Issuance of bonds is treated as a Financing Source, inflow on activity statement Long term debt is not listed on the fund Balance Sheet Payments of principal on long-term debt are treated as an expenditure Fund vs. Government-Wide Statements Government-wide statements use the accrual basis and report long-term assets and liabilities for both governmental and business activities Fund perspective statements use the modified accrual basis for governmental type funds which do not recognize long-term assets and long-t