• Discuss in detail the unique accounting and recording of budgets in governmental and not-for-profit accounting citing GASB requirements.
• Include in your discussion examples (reasons) why budgets are accounted for differently in governments/not-for-profits than for-profit organizations; i.e. compare and contrast.
• You may want to discuss what you are learning in the CAFR assignment as part of this discussion.

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Ans The main difference is that the statements represent the assets that affect different people for the governments statements it affects the taxpayers for the nonprofits statements it affects those ... View the full answer