- Identify the key differences between government-wide and governmental fund financial statements and indicate why both are useful in municipal credit evaluations. - Recognize how political pressures, socioeconomic factors, and deferred maintenance can influence accounting variables in municipal financial statements. - Recall how COVID relief funds and anticipated federal retrenchment affect state and local government balance sheets and fund balance ratios. - Distinguish between major types of accounting used by municipal entities and select the most meaningful financial indicators for evaluating long-term credit health.