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Master's Professional Reports Abstract

An Evaluation of Four Revenue Recognition Standards for the Governmental Funds

My report evaluates four possible revenue recognition standards for the governmental funds, which include the fund types general fund, special revenue fund, debt service fund, and capital projects fund. The four standards, the Cash Standard, the Modified Accruals Standard, the Legal Claim Standard (LCS), and the Revenue-Expenditure Matching Standard (REMS), are examined on their relative merits in relation to five evaluation criteria. Three of these criteria are simply the objectives of financial reporting put forth by the Governmental Accounting Standards Board (GASB), while the latter two criteria are developed separately from the GASB's explicit objectives of financial reporting.

--Author's foreword.