The Statement of Net Assets presents the asset, liability, and net asset balances for the entity’s governmental and business-type activities, which also comprises the primary government.
The SNA includes both the Governmental and Business activities funds of the government, but not the fiduciary funds, because they do not belong to the government. It includes the capital assets and LT debt that the government has, which are not reported under modified accrual.
The Statement of Net Assets presents the asset, liability, and net asset balances for the entity’s governmental and business-type activities, which also comprises the primary government.
ReplyDeleteThe net assets are measured on the accrual basis and economic resources measurement focus.
DeleteThe SNA includes both the Governmental and Business activities funds of the government, but not the fiduciary funds, because they do not belong to the government. It includes the capital assets and LT debt that the government has, which are not reported under modified accrual.
ReplyDeleteSNA is the first statement in CAFR; followed the MD&A. It represents the asset, liability and net asset balances.
ReplyDelete