Citizens expect government reporting to be accurate and relevant. However, government reporting can be very complex because there are many separate supporting organizations that may be controlled by a primary government or exist to support and provide services to an organization. Additionally, there are many different levels of government support, organization, and dependence that are factors in determining when a component unit must be included in a primary government’s report. This whitepaper simplifies some of the complexities by:
- defining reporting entities and fiscal independence,
- understanding the differences in criteria for the primary government’s report (including a unit, not including a unit, or dual inclusion), and
- reporting the primary government’s reportable entity in discrete or blended manner.
Download this CRInsight to understand which entities should be included in the primary government’s financial statements–and in what way the data should be reported.