Difference between Interfund Transfers and Other Financing Sources (Uses)

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  • November 11, 2017 at 11:50 am #1661027
    Katie
    Participant

    I have in my notes to use “Other Financing Sources (Uses)” for governmental funds and “Interfund Transfers” for proprietary and fiduciary funds, but then the rest of my notes are inconsistent with that. Does anyone have an easy way to differentiate between the two? I feel like I totally missed something in the Becker text. Thank you!!

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  • August 13, 2020 at 12:06 am #3075279
    YING LIU
    Guest

    I have the same question.

    August 13, 2020 at 2:07 am #3075321
    CPAHOPE
    Participant

    Governmental funds use modified accrual basis; hence use the term other financing sources (uses)
    Proprietary and fiduciary funds use accrual basis so they dont use the term other financing sources (uses)

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