What is a fiduciary fund and what are the different types of fiduciary funds?
A fiduciary fund accounts for assets held in a trustee capacity and can generally not be used to support a government’s own programs. The four common types of fiduciary fund financials include investment trust funds, pension trust funds, private purpose trust funds, and custodial funds:
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You might also be interested in... What are the two basis types for accounting for government fund financial statements?
Governmental funds are accounted for using the modified accrual and current resources measurement focus:
What is a fund and what are the three types under government accounting?
Fund financial statements have different rules and should be presented separately for the three their respective basis for accounting. Reporting requirements will include both fund-based and government-wide financial statements (aka consolidated financial statements), supported by notes to the financial statements as well as supporting notes to the financial statements and required supplementary information. The 3...
What are the two basis types for accounting for government fund financial statements?
Governmental funds are accounted for using the modified accrual and current resources measurement focus:
What is a fund and what are the three types under government accounting?
Fund financial statements have different rules and should be presented separately for the three their respective basis for accounting. Reporting requirements will include both fund-based and government-wide financial statements (aka consolidated financial statements), supported by notes to the financial statements as well as supporting notes to the financial statements and required supplementary information. The 3...
