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I get the accrual vs. modified accrual rules, but it would seem that although you are not capitalizing assets in the governmental fund, you have to make those entries somewhere if you are going to report them on the government wide statements.
Is my thinking right here, it sounds so straight forward initially (i.e., just book everything as an expenditure when it’s paid for in a governmental fund and you’re done), but if they do that how do they arrive at a value for fixed assets on the government wide statements.
Initially I thought that the only assets reported and depreciated were those in the proprietary and fiduciary funds, but it doesn’t look like that the case.
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