Question

public colleges and universities are treated as component units of their respective primary governments (cities or states).what is the criteria under GASB Statement No. 14 for a public college or university to be excluded

Answer 1

Will someone please explain this, I do not understand what is being asked.



Thank you

Answer 2

There are accounting standards that apply to state and local governments. Public colleges and universities are branches of (controlled by) state and (sometimes) local governents, or are separate governmental units, a in a community college district. The GASB Statement 14 exempts colleges and universities from some of those accounting standards. You are to explain the criteria for such exemptions.

http://www.gasb.org/st/summary/gstsm14.html