The Use of Government-wide Financial Statements (GASB)

The Use of Government-wide Financial Statements (GASB)

The article has presented some important issues including the use of government-wide financial statements. The article has explained that they are required for all GASB complaint audit reports, help in financial comparison across organizations and can be linked to state-level economic measures and state bond ratings (p. 117). This information is quite helpful to readers that are encountering such an article for the first time or those that might not have heard about government-wide financial statements before.  This is because they will now understand why these financial statements are important and the need to institute a research revolving around the statements. Another important issue is on the measures used to ascertain the fiscal conditions in Wisconsin Counties. Five measures have been used i.e., financial position, financial performance, general support rate, liquidity, and solvency (p. 123). Using five measures of f

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