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.