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Identify whether each of these is an agency.

Proprietary fund statements. This includes everything that cant be categorized under other funds. A statement of revenues expenses and changes in fund net assets. Proprietary fund will report their fund financial statements by applying the full-accrual basis of accounting and will apply the economic resources measurement focus.

Major Enterprise Funds. Related Courses Auditing State and Local Governments. And a statement of cash flows.

One of the most unique aspects of the fund-based financial statements is the statement of cash flows for the proprietary funds see Exhibit 177. A Statement of net position. Do the financial statements provide evidence that all proprietary funds use accrual accounting.

Statement of net position. This report consists of a series of enterprise fund financial statements. The Statement of Position The Statement of Revenues Expenses and Changes in Net Position.

The Virginia Lottery accounts for all receipts and expenses. Compensation Revolving Loan Lottery Turnpike Fund Fund Fund Authority Assets Current Assets. Required proprietary fund statements are a statement of net assets.

Factually it is supposed to be reported in all the relevant places. The Governmental Fund Balance Sheet. The required fund financial statements remain similar between the old and the new reporting models.

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