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Reporting entities, including those filing through the Michigan Treasury Online Filing system , must use these classifications to remain in compliance with Generally Accepted Accounting Principles (GAAP).

: These elements are reported separately from assets and liabilities to show the "net position" of a government entity. baoufst-65-lfn-abzcqfclk-uupzc

: Items like deferred revenue (e.g., property taxes received in advance) are reclassified as Deferred Inflows of Resources . baoufst-65-lfn-abzcqfclk-uupzc