GASB Statement 34 and Reporting of Expenditures and General Capital Assets

Option #1: GASB Statement 34 and Reporting of Expenditures and General Capital Assets

Provide complete answers to the following:

1. What conditions must be satisfied in order to use the modified approach for recording infrastructure?
2. With regard to the government-wide statements, indicate the three categories of Net Position that should be reported, and describe what would be put into each category.
3. With regard to the government-wide statements, distinguish between program revenues and general revenues.  List three examples of each.  What is the difference in reporting between program revenues and general revenues?

Paper Requirements:

• Submit your responses to the questions in a one- to two-page document in MSWord. Label each question clearly. For computations, please include them in a table.
• For written answers, please make sure your responses are well written.
• Follow the CSU-Global Guide to Writing & APA Requirements.
• The required number of pages for the assignment does not include the title page and references page.