Various entities are all involved in delivering the same basic service — education. For example, In the United States, educational services can be provided by federal government entities, by non-federal government entities, by not-for-profit entities, and by for-profit entities. Are the accounting and financial reporting standards the same for each of these entities? Should they be the same?

Answer rating: 100% (QA)

As per the Financial Accounting Standards Board FASB financial reporting requirements are different ... View the full answer