: These elements are reported separately from assets and liabilities to show the "net position" of a government entity.
: GASB 65 alters how major funds are calculated by including these deferred elements in the percentage-based tests. Compliance for Local Governments : baoufst-65-lfn-abzcqfclk-uupzc
Reporting entities, including those filing through the Michigan Treasury Online Filing system , must use these classifications to remain in compliance with Generally Accepted Accounting Principles (GAAP). : These elements are reported separately from assets