21.FASAB, GASB and FASB standards are set forth primarily in documents called interpretations.
22.Fund-basis statements are presented for three categories of government activities: governmental, proprietary, and fiduciary.
23.State and local governments may use twelvedifferent fund types.
24.The economic resource measurement focus and accrual basis of measurement is an important feature of government-wide financial statements.
25.Business activities fund statements must be changed to the accrual basis from the modified accrual basis when preparing government-wide financial statements.
26.Governmental-type activities fund statements must use accrual basis when preparing government-wide financial statements.
27.Fiduciary funds of a governmental unit use the current financial resources measurement focus and modified accrual basis of accounting
28.Under theaccrual basis of accounting, revenues are recognized when measurable and available to finance expenditures of the current period.
29.The government-wide statements and the fund statements for proprietary funds and fiduciary funds use the economic resources measurement focus and the accrual basis of accounting.
30.General fixed assets of the government are reported both in the government-wide financial statements and the governmental fund financial statements.