What is required for a potential component unit to be fiscally dependent on a primary government? When is a fiscally dependent entity treated as a component unit?
Answer to relevant QuestionsWhat makes a government financially accountable for another entity?A county has a legally separate parks commission that it reports as a component unit because the county board of commissioners serves as the board of the parks commission and the county can impose its will on the commission. ...Maynor County officials have concluded that several legally separate entities must be included as component units of its reporting entity in its CAFR. Three of those entities and the funds used to account for them ...What is the difference between voluntary health and welfare organizations and other not-for-profit organizations? Give common examples of each.What is the difference between restricted and unrestricted contributions? What effect do restrictions have on revenue recognition?
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