TITLE

Reporting Restricted Net Assets

AUTHOR(S)
Loyd, D. Scot; Crawford, Michael A.
PUB. DATE
June 2007
SOURCE
Governmental GAAP Update Service;6/15/2007, Vol. 7 Issue 11, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article focuses on the addition of a new classification of equity accounts within the financial statements of a state or local government entity in the Statement No. 34 issued by the U.S. Governmental Accounting Standards Board (GASB). The standard also requires the reporting of net assets in the identified components for the government-wide and proprietary funds' statements of net assets. It also defines net assets invested in capital assets and net of related debt as capital assets.
ACCESSION #
31220911

 

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