GAAP requirements for external financing reporting include?

General government financial resources that are required to be used to pay principal , and interest on general government long term debt account?

GAAP requirements for external financing reporting include?

Four general function external financial accounts are provided for under widely agreed accounting rules, as well as U.S. securities laws: the statement of financial position, income statement, cash flow statement, and equity statement. The balance sheet shows all the assets of your company and all of its debts (financial obligations), and the gap between them is known as the equity of the shareholders of the company. The income statement reports the earnings and costs of the business from its primary functions, as well as profits and losses from other operations. The cash balance statement monitors the amount of cash the corporation takes in and the amount that goes out. The equity statement outlines how the company's overall "net assets", assets minus debts, convert into the stake of each holder.

General government financial resources that are required to be used to pay principal, and interest on general government long-term debt account?

In a Debt Service Fund, public sector financial services that are expected to have been used to pay interest and principal on government budget long-term liabilities are paid for. A debt service fund is a cash balance that is used on some forms of debt to cover interest and principal costs. The presence of an existing debt fund is meant to reduce the cost to borrowers of debt security that makes it more appealing to investors and thus decreases the effective interest rate required to market the deal. However, a part of the money that the debt lender receives from the debt sale is wrapped up so that it cannot be diverted on more valuable assets.