GASB requires which of the following to be reported separately after other financing sources and uses in the Statement of Revenues,Expenditures,and Changes in Fund Balance?

Question

Quizplus · Accepted Answer

GASB requires both special items and extraordinary items to be reported separately after other financing sources and uses in the Statement of Revenues, Expenditures, and Changes in Fund Balance. Interfund transfers, on the other hand, are typically reported separately in the Statement of Revenues, Expenditures, and Changes in Fund Balance as a separate section devoted to transfers, so they are not included in the answer.

GASB Requires Which of the Following to Be Reported Separately