Accrual and Modified Accrual Basis of Accounting
Submit your responses to the following questions in a 1-2 page summary MSWord document. Label each question clearly. For written answers, please make sure your responses are well written, use APA-Formatting and have the proper citation and include in-text Citation. Provide your reference.
1. How does the modified accrual basis of accounting differ from the accrual basis?
2. What are the three sections of a comprehensive annual financial report (CAFR)? What information is contained in each section? How do the minimum requirements for general purpose external financial reporting related in scope to the CAFR?