Question: In this problem, you will research reporting entities for governments in the GASBs Governmental Accounting Research System (GRS). Access the GRS database citing your results

In this problem, you will research reporting entities for governments in the GASBs Governmental Accounting Research System (GRS). Access the GRS database citing your results from the GASB guidance with utmost authoritative guidance. Provide requisite examples as requested from the GRS and cite your results from the Codification. Minimum of 2 pages required. Research the accounting issue and formulize your findings in a formal research memo. The formal memo should be in good form with proper grammar, conveying the results of your research.

Define a financial reporting entity. Give an example of a primary government. Define and give an example of a component unit. Explain the two methods of reporting the primary government and component units in the financial reporting entity and when each is required.

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