Arkansas Statutes

§ 19-4-506 — Accounting and reporting capabilities

Arkansas·Title 19

A governmental accounting system must make it possible both to:

(1)Present fairly and with full disclosure the financial position and results of financial operations of the funds and account groups of the governmental unit in conformity with generally accepted accounting principles; and (2) Determine and demonstrate compliance with finance-related legal and contractual provisions.

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Legislative History

Acts 1973, No. 876, § 12; 1979, No. 833, § 3; A.S.A. 1947, § 13-338.

Nearby Sections

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