T/F A special-purpose governments is a legally separate entity that is a component unit or other stand-alone government. If it has governmental and business-type activities or engages in two or more governmental programs, it should be reported as a general-purpose government. If it engages in one governmental program, it is reported as a special-purpose government. It may combine the government-wide and fund statements in a format that reconciles individual items of fund data to government-wide data in a separate column.

The CPA Business Analysis and Reporting (BAR) discipline focuses on advanced, high-level accounting, analyzing financial data for decision-making, and specialized reporting (10-20% gov't).

Key concepts include financial statement analysis, cost/variance analysis, complex technical reporting (consolidations, derivatives, leases), and government-wide financial statement conversion.