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Rakhi Vasavada
Rakhi Vasavada, Financial and Legal Consultant
Category: Finance
Satisfied Customers: 4473
Experience:  Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years
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What are included in government-wide financial statements?

Customer Question

What are included in government-wide financial statements? Do they include all governmental funds, properietary and fiduciay funds?
Please advise.
Thank you.
Submitted: 7 months ago.
Category: Finance
Expert:  Rakhi Vasavada replied 7 months ago.
Dear Friend,Hello and welcome. Thank you for providing an opportunity to assist you.Government Financial Statement -- as you know -- essentially consists of a statement that details the income and expenditure of a Government. The financial statements, in contrast to budget, present the revenue collected and amounts spent. The government financial statements usually include a statement of activities (similar to an income statement in the private sector), a balance sheet and often some type of reconciliation. HAVING said this, YES -- These statements certainly include ALL government Funds, both proprietary and fiduciary. The following is just for your general reading and reference. http://www.gasb.org/cs/ContentServer?pagename=GASB/GASBContent_C/UsersArticlePage&cid=1176156735732 I am sure this would help. You may please leave a positive rating if this helps as this is the only way we are compensated for assisting you. Alternatively, you may revert back with a reply if you need further assistance or if I have missed out on any aspect of your question. Warm Regards,