[MantisAlfredo]

I know this is a section everyone says to know well considering its weight, but good god is the CAFR loaded with information. Asking for some guidance on how well I need to delve into the actual conversion of fund statements to Government Wide statements. Conceptually I know what needs to be adjusted, and why it needs to be adjusted. But actually executing is very intimidating and I don’t want to waste time. What are everyone’s experiences?

[Tim]

I don't want to set you off track but I think you'll be good with knowing the concepts. I felt the same way as you about it when I took FAR. Knowing all the funds, which transactions go into each fund, whether they use accrual or modified-accrual, which financial statements they're reported in and that type of stuff is what you need to know.

[Author]

Replies