A Comprehensive Annual Financial Report (CAFR) is a government financial statement, which goes beyond the minimums established for public sector companies by NCGA (National Council on Governmental Accounting) statement 1. Public sector companies will not have a statistical section in their Annual Financial Report (AFR). A CAFR has three major sections : Introductory, financial, and statistical. The CAFR is created with a showing of fund accounting and Enterprise Authority accounting.
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