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After studying Chapter 8, you should be able to:

• -Perform the steps necessary to prepare government-wide financial statements, including:
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• -Prepare worksheet entries to convert the governmental fund records to the economic resources measurement focus and the accrual basis of accounting.
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• -Prepare worksheet entries to include internal service funds with governmental activities.
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• -Prepare required schedules reconciling the government-wide and fund-basis financial statements.
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• -Record events and transactions related to general fixed assets and general long-term debt and describe required schedules related to long-term debt.