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How is the format used on the Statement of Revenues, Expenditures, and Changes in Fund Balances...

How is the format used on the Statement of Revenues, Expenditures, and Changes in Fund Balances for the general fund different from the format on Income Statements used by for-profit organizations?

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The main difference which lies in the format of both is of the terminology used. Whereaas Income Stateemnt uses revenue, expenditure and net income as the basis of their statement's skeletal. The Statement of Revenues, Expenditures, and Changes in Fund Balances for the general fund uses revenue, expenditure and excess of revenue over expenditure along with other financing sources (uses) which included cash inflow and outflow from activities which are not the main sources of finances or revenue or source of usage.

Excess (deficit) of revenue over expenditure is added in fund balance account of Statement of Revenues, Expenditures, and Changes in Fund Balances for the general fund whereas in Income Statement it is added in retained earnings section

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