How does the gasb define extraordinary and special items

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Reference no: EM132475320

Question 1: How does the GASB define extraordinary and special items? Compare the definitions and recognition of these items to FASB requirements.

Question 2: Explain the essential differences between revenues and other financing sources and between expenditures and other financing uses. How is each of these items reported on the governmental funds statement of revenues, expenditures, and changes in fund balances?

Question 3: Explain the difference between a program revenue and a general revenue. Why does the GASB require this distinction?

Reference no: EM132475320

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