[dess213]

So, I hate mnemonics because they allow for rote memorization and not for full understanding. I’m using Becker and they have the GOES BARE and GALS BARE mnemonics. I think I understand the reconciliation between the two Statements of Net Positions, but I’m struggling with the reconciliation of the Statement of Revenues, Expenditures, & Changes in Fund Balance.

I understand the “BARE” part (Basis of Accounting, Accrual, Revenues, and Expenditures) because modified accrual recognizes revenues & expenses at different time than the accrual so you have to adjust the modified accrual statements to get to full accrual.

What I don’t understand is the “GOES” (G-Gov’t Fund Statement-Net change in fund balance, O-Other Financing Sources, E-Expenditure-capital outlay, & S-internal Service Fund Net Income). Why do we eliminate the “Other Financing Sources” and add in the “Expenditure-Capital Outlay” to the balances to reconcile it to the Gov’t wide?

Thanks in advance.

FAR-83
AUD-90
BEC-83
REG-80

I'M DONE!!