Compare and contrast proprietary fund reporting under GASB No.34 with GAAP financial reporting for non-governmental entities. Examine
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GAAP
Generally Accepted Accounting Principles (GAAP) is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC). While the SEC previously stated that it intends to move from U.S. GAAP to the International Financial Reporting Standards (IFRS), the...
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Under GASB Statement No 34 a separate column will be required under proprietary fund reporting The p...View the full answer
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Related Book For 
Accounting For Governmental And Nonprofit Entities
ISBN: 9781260118858
19th Edition
Authors: Jacqueline Reck, Suzanne Lowensohn, Daniel Neely
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