- Describe and explain at least 3 differences in for-profit entities and governmental agencies that cause them to have different required accounting procedures; include an example of each.
- explain which regulating authority oversees the accounting rules for governmental vs. for-profit entities. Include an example and brief explanation, in your own words, of the most recent new guideline established by the agency overseeing government accounting. Access the following Web site: www.gasb.org/
- explain at least 2 differences between governmental entities and nonprofit, nongovernmental agencies, including an example of each difference.
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