Although fund accounting remains in widespread use in managing public funds, explain why funds are not presented in financial statements prepared in accordance with the PSA reporting framework ...

Fund accounting is not well understood by the broad population of financial ...

Although fund accounting remains in widespread use in managing public funds, explain why funds are not presented

Question:

Although fund accounting remains in widespread use in managing public funds, explain why funds are not presented in prepared in accordance with the PSA reporting framework.
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...