Measurement focus: comparing statements. Under the reporting model required by GASB Statement No. 34, fund statements are required for governmental, proprietary, and fiduciary funds. Government-wide...

Measurement focus: comparing statements. Under the reporting model required by GASB Statement No. 34, fund statements are required for governmental, proprietary, and fiduciary funds. Government-wide statements include the statement of net position and the statement of activities.

1. Explain the measurement focus and basis of accounting for governmental fund statements, proprietary fund statements, fiduciary fund statements, and government-wide statements.

2. Explain some differences between fund financial statements and government-wide statements with regard to component units, fiduciary funds, and location of internal service funds.

3. What should be included in the statement of net position categories invested in capital assets, net of related debt, restricted, and unrestricted?