For each characteristic, concept, or financial reporting requirement listed, Indicate a Y for yes In the type of organization column if the Item applies to that type of organization or N for no if it does not apply. State and Local Governments Federal Government Nongovernmental Not-for-Profit Organizations Characteristic. Concept, or Financial Reporting Requirement Accountability is the foundation of financial reporting Management's discussion and analysis (MD&A) Performance & accountability report Stewardship is identified as a financial statement purpose A concern with budgetary compliance Absence of defined ownership interests Standards set by GASB Standards set by FASB Standards set by FASAB Standards focused on just external users of financial information