Reporting Requirements for Annual Financial Reports of State Agencies and Universities
General Accounting
Government-wide Financial Statements
The GWFS are reported using the economic resources measurement focus and the full accrual basis of accounting. GWFS report information about the government as a whole without displaying individual funds or fund types. Distinctions should be made in the GWFS between the primary government and its discretely presented component units, as well as between governmental activities and business-type activities. Fiduciary activities are not included in the GWFS.
GWFS include:
- Statement of net position
- Statement of activities