Statement of Financial Accounting Concepts 1, Objectives of Federal Financial Reporting at (www.fasab.gov/pdffiles/handbook_sffac_1.pdf) identifies accountability and decision

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Statement of Financial Accounting Concepts 1, "Objectives of Federal Financial Reporting" at (www.fasab.gov/pdffiles/handbook_sffac_1.pdf) identifies accountability and decision usefulness as the fundamental values of federal government financial accounting and reporting. The statement identifies four groups of users to whom the government owes accountability and the possible needs of each user group.

Required

Briefly describe the user groups, their needs for information, and how these tie into the four objectives of federal financial reporting identified in the statement.

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Accounting for Governmental and Nonprofit Entities

ISBN: 978-0078025822

17th edition

Authors: Jacqueline Reck, Suzanne Lowensohn, Earl Wilson

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