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  • 12 minutes

Understanding the Difference Between a Measurement Focus and Basis of Accounting


What is a measurement focus?

Measurement focus tells you what to record in the financial statements. There are two basic measurement focuses used - current financial resources and economic resources. A basis of accounting tells you when a transaction is recorded in the financial statements. There are two basics basis of accounting - modified accrual basis of accounting and accrual basis of accounting. This video reviews the relationship of measurement focus and basis of accounting and the differences between GAAP financial statements and a CAFR.

Runtime: 12 minutes
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Warren Ruppel, CPA

Warren Ruppel, CPA

Marks Paneth LLP

  • Currently, partner in the nonprofit, Government and Healthcare Group of Marks Paneth LLP, a Top 100 accounting firm based in New York
  • Author of CCH’s Knowledge Based Audits of Not-for-Profit Organizations; Wiley’s Not-for-Profit Accounting Made Easy; and Not-for-Profit Audit Committee Best Practices
  • Formerly the assistant comptroller of accounting for the city of New York, with overall responsibility for the city’s accounting and financial reporting
  • Earlier in career with KPMG and Deloitte & Touche, serving numerous public sector not-for-profit and government audit clients
  • Former board member and chair of the audit committee of the New York State Society of CPA’s
  • Appears quarterly as the government specialist on the CPA report distributed by SmartPros
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