In this question you will discuss the objectives of financial reporting for governmental and not-for-profit entities. Write one page double spaced on:

What are the basic financial reporting objectives of governmental and not-for-profit entities? How do these objectives differ from for-profit entities? Why do these differences exist? How do these differences affect the regulations related to accounting for governments and not-for-profits?

In this question you identify and describe the bodies that regulate accounting standards for governments and not-for-profit entities. Write one page double spaced

Who is responsible for setting the accounting standards for governmental entities? Who is responsible for setting the accounting standards for not-for-profit organizations? Do these standards overlap? Do they share any commonalities?

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