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Discuss how property taxes are treated differently in the governmental funds statements as opposed to the governmental wide statements? Do you agree with this treatment? Why or why not?From the first e-Activity, discuss the accounting treatment of non-exchange transactions with a focus on the difference between government-mandated and voluntary non-exchange transactions. Evaluate the potential impact of time restrictions on revenue recognition for non-exchange transactions. Rationalize the difference in time restrictions for mandatory non-exchange reporting and voluntary non-exchange reporting. From the second e-Activity, identify the potential issues resulting if Statement No.36 had not been issued by GASB. Assess whether or not GAAP require similar treatment for revenue recognition for nongovernmental entities and provide a rationale for any differences in treatment. Evaluate Statement No. 36 and GAAP revenue recognition requirement. Provide a rationale for the differences in accounting treatment.http://www.gasb.org/cs/ContentServer?c=Pronouncement_C&pagename=GASB%2FPronouncement_C%2FGASBSummaryPage&cid=1176156699347. Be prepared to discuss.Go to the GASB Website to read the article titled “GASB Establishes Symmetry between Recipients and Providers in Accounting for Certain Shared Revenues”, dated May 5, 2000, located at http://www.gasb.org/cs/ContentServer?c=GASBContent_C&pagename=GASB/GASBContent_C/GASBNewsPage&cid=1176156695461. Be prepared to discuss.
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