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What justifies the markedly different accounting and financial reporting practices of governments as compared with business organizations? What...

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Accounting

  1. What justifies the markedly different accounting and financialreporting practices of governments as compared with businessorganizations?
  2. What are the differences that distinguish governments frombusiness organizations?
  3. What are some of the differences in accounting standardsbetween governments and business organizations?

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Accounting and financial reporting practices of government and business organizations are different Government financial reporting is the process whereby governments report their financial position and activities to the public at largeThese reports are the standard that citizens oversight bodies and other stakeholders use to judge their governments efficiency effectiveness and overall financial condition In Business financial reporting Business managers creditors and investors read financial reports because    See Answer
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