The CPA FAR Exam always asks questions about government accounting and reporting but many FAR candidates try to memorize acronyms from Becker or Roger and find that when they get to the test, those acronyms are not on the exam! In this Video, you will learn why some funds report using the modified accrual basis and why some funds report using full accrual accounting. You will also learn the difference between fiscal and operational accountability and learn why certain funds record an expenditure while other funds recognize an asset and depreciate the asset.

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