Question: Compare and contrast proprietary fund reporting under GASB No.34 with GAAP financial reporting for non-governmental entities. Examine why GASB requires the direct method for cash

Compare and contrast proprietary fund reporting under GASB No.34 with GAAP financial reporting for non-governmental entities. Examine why GASB requires the direct method for cash flow statements in the proprietary funds instead of allowing the direct or indirect method.

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