Regarding external financial reporting for governmental units, "Required Supplementary Information" includes both (1) budgetary financial statements and (2) the management discussion and analysis.

Question

Quizplus · Accepted Answer

Required Supplementary Information (RSI) for governmental units typically includes budgetary comparison schedules and the Management's Discussion and Analysis (MD&A) as part of the financial reporting process.

Regarding External Financial Reporting for Governmental Units, "Required Supplementary Information