Comparing and contrasting the financial reporting differences between state and local governments, federal government, and nonprofit organizations.
Explain the how these organizations differ from business organizations.
Contrast the financial reporting objectives for these three types of organizations, and the sources of standards for reporting.
Discuss how the growing demand for government accountability and transparency in reporting has promoted broader civil engagement and enhanced government effectiveness.
Identify the authoritative bodies responsible for setting financial reporting. Compare the objectives of financial reporting for state and local governments, the federal government, and not-for-profit organizations. Explain the minimum requirements for general purpose external financial reporting for state and local governments. Explain the nature of the three major activity categories of a state or local government.
