What is the signiﬁcance for ﬁnancial reporting of the many restrictions that are placed upon a government’s resources?
Answer to relevant QuestionsWhy is it difﬁcult to develop accounting principles that are appropriate for governments within the same category (e.g., cities, counties) and even more difﬁcult to develop them for governments within different ...Why is it more difﬁcult to distinguish between internal and external users in governments than in businesses?The ﬁnancial statements that follow were adapted from those of the University of Arizona. Both the statement of changes in fund balances and the notes to the statements have been omitted. Moreover, the statements show only ...Unquestionably, constituents of both governments and not-for-proﬁts are no less interested in what the organization has accomplished than they are in ﬁnancial data, such as revenues and expenses. How can you justify an ...What are ﬁduciary funds? What are the two main types and what is the distinction between them?
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