1-6 Accounting and financial reporting for state and local governments use, in different places, either the economic resources measurement focus and

1–6 Accounting and financial reporting for state and local governments use, in

different places, either the economic resources measurement focus and the

accrual basis of accounting or the current financial resources measurement

focus and the modified accrual basis of accounting. Discuss the differences

in measurement focus and basis of accounting related to ( a ) the conceptual

differences, ( b ) differences in revenue recognition, ( c ) differences in expense/

expenditure recognition, ( d ) differences in recognition of fixed assets, and ( e )

differences in the recording of long-term debt.