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Chapter 11

Granof-5e

Chapter 11

Granof-5e

Government Wide Statements

General Approach to preparing government-wide statements from fund statements:

Start with a year-end trial balance that combines all of the governmental funds.

Eliminate all inter-fund transactions.

Adjust capital asset-related accounts

Adjust long-term, debt-related accounts

Adjust for differences in basis of accounting

Consolidate the internal service fund

Complete the government-wide trial balance

Divide the accounts between Statement of Net Assets and Statement of Activities and then among the various functional accounts.

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