What is Statement of activities (government-wide)?
In short
The government-wide statement of activities shows each function's expenses, less the program revenues it generates, to give its net expense, and then shows the general revenues, such as taxes, that finance it.
Key takeaways
- Program revenues: charges for services and operating and capital grants.
- All taxes are general revenues, even if levied for a specific purpose.
- It uses the economic resources focus and full accrual basis.
Where it's tested
BAR: Government-Wide Statements & the Annual Comprehensive Financial Report — study notes, a five-minute revision sheet and practice questions.
Practise: 3 questions
Question 1 of 3 · 0 answered
Which is reported as a program revenue in the government-wide statement of activities?