Question: Read the journal article Cracking the Nonprofit Accounting Code. Based on the information presented in the article, discuss: How and why does the accounting system

Read the journal article "Cracking the Nonprofit Accounting Code." Based on the information presented in the article, discuss:
How and why does the accounting system used by governmental/nonprofit entities differ from the system used by for-profit entities? How does the annual financial report of a governmental/nonprofit entity differ from the report of a for-profit entity? The user of a for-profit financial report is usually interested in the bottom line, net income. What are some top interests of the user of the financial reports of a governmental/nonprofit entity? Reference this week's lecture to support your post.

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The basic objective of some entities is to earn profit These are known as forprofit entities While the core aim of not for profit or government entiti... View full answer

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