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Essentials of Accounting for Governmental and Not-for-Profit Organizations - page 12 / 19

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12 / 19

8-12

Required Reconciliation of Governmental Fund Balances to Government-wide Net Assets

Starts with Government fund balances

Summarizes all the changes made to get entity-wide government net assets

Note typical reconciliation items include:

Addition of long-term assets (+)

Inclusion of ISF net assets (usually +)

Handling of deferred revenue as revenue instead of as liability  (+)

Addition of long-term liabilities (-)

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