Section 3: 10–20%B13
Government-Specific Transactions and Reporting
Exam Insight
Beyond the funds and the conversion, BAR tests a cluster of government-only transactions: nonexchange revenue under GASB 33, infrastructure and the modified approach, interfund activity, net position classifications, and pension/OPEB reporting. These rules have no private-sector equivalent, so they must be learned directly.
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What AICPA Wants You to Know
- 1Apply GASB 33 to derived, imposed, government-mandated, and voluntary nonexchange transactions
- 2Recognize property tax revenue using the availability and 60-day rules
- 3Account for capital assets and infrastructure, including the modified approach
- 4Classify and eliminate interfund activity (transfers, loans, and services)
- 5Report the three components of net position and the basics of pension/OPEB liabilities