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OCBOA Cash/OCBOA Modified Cash Basis Financial Statements

(commonly referred to as “GAAP look-alike”)

OCBOA Cash Basis – Financial statements prepared on the cash basis as “GAAP look-alike” financial statements; relevant Governmental Accounting Standards Board (GASB) Statements have been applied to the extent the GASB Statements are applicable to the OCBOA Cash Basis of accounting.

OCBOA Modified Cash Basis – Financial statements prepared on a modified cash basis as “GAAP look-alike” financial statements; relevant GASB Statements have been applied to the extent the financial statements are applicable to an OCBOA Modified Cash Basis of accounting. The most common modification applied within an OCBOA Modified Cash Basis is the recording long term investment activity. Other common modifications include recording of capital assets, net accumulated depreciation and long-term debt arising from cash transactions.

The Auditor of State's Office is not responsible for the completeness or the sufficiency of the shells listed below. Auditees or independent public accountants should tailor these shells accordingly and ensure note disclosures, etc. include the most recent information available.

Financial Statements for Annual Financial Reports

Below are sample GAAP look-alikes

Presenting an MD&A or a letter of transmittal is optional when preparing OCBOA statements. If you choose to present an MD&A or a letter of transmittal, see Governmental Accounting Standards Board (GASB) guidance.