Chapter 21: Reconciliations and Government-Wide Reporting

In this section

• Common Adjustments (Long-Term Debt, Capital Assets)
  Learn how to reconcile state and local government fund-level financial statements with government-wide statements by adjusting for long-term debt and capital assets, including bond proceeds, principal payments, and capital outlay.
• Internal Service Funds and Transfers
  Explore how transactions among Internal Service Funds and other governmental funds are eliminated or reclassified in government-wide statements, ensuring accurate presentation and avoiding double counting.
• Handling Infrastructure and Specific Disclosures
  Learn how state and local governments apply the modified approach for infrastructure assets and navigate specialized disclosures, ensuring transparency and compliance with GASB standards.
• Reporting Component Units (Discrete and Blended)
  Learn how to identify, classify, and report discrete and blended component units in the ACFR, including key GASB guidance, presentation considerations, disclosures, and best practices.