•Elimination of interfund activities at
government wide level
Governmental and
business-type activities should follow all applicable GASB pronouncement as
well as FASB, APB, and ARB pronouncements issued prior to November 30, 1999
unless they contradict with GASB pronouncements.
Business-type
activities may also apply FASB pronouncements issued after November 30, 1999
as provided in paragraph 7 of GAB Statement 20.