What is Net position?
In short
Net position is the residual of a government's assets and deferred outflows less its liabilities and deferred inflows, reported in the government-wide statement of net position.
Key takeaways
- It is split into net investment in capital assets, restricted and unrestricted.
- Net investment in capital assets equals capital assets net of depreciation, less related debt.
- Governmental funds report fund balance instead, using different classifications.
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
In reconciling total governmental fund balances to net position of governmental activities, which adjustment is required?