Comprehensive annual financial report

A comprehensive annual financial report (CAFR) is a complete set of financial statements issued by a government entity in accordance with the requirements of the Governmental Accounting Standards Board. The report is comprised of the following three sections:

  • Introductory
  • Financial
  • Statistical

The CAFR describes what was spent by the reporting entity during the past year, as well as the ending state of its assets and liabilities. The report is a summarization of all of the annual reports of the entity’s agencies.

Related Courses

Governmental Accounting