The reconciliation(s) that are required to be presented on the face of the governmental fund financial statements or in separate schedule immediately after the fund financial statements include:

Question

Quizplus · Accepted Answer

Both A and B are required reconciliations that must be presented on the face of the governmental fund financial statements or in a separate schedule immediately following the fund financial statements. Reconciliation A is required to reconcile the Balance Sheet of the governmental funds to the Statement of Net Assets in the government-wide financial statements, while reconciliation B is necessary to reconcile the Statement of Revenues, Expenditures, and Changes in Fund Balances of the governmental funds to the Statement of Activities in the government-wide financial statements.

The Reconciliation(s) That Are Required to Be Presented on the Face