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Section I-2 Five Environmental differences between government activitys and for-profit business enterprises atomic number 18: 1. Organization purpose- commercially, generating profit for owners. The purpose of government is to enhance or maintain the well-being of citizens by providing commonplace services in accordance with public policy goals. 2. opening of revenue - The monger source of revenue for government is evaluateation, which is a legally mandated instinctive transaction between individual citizens and businesses and their government. The head source of revenue of business enterprises is voluntary exchange transactions between will buyers and sellers. 3. Potential for longevity-Governments ongoing power to tax and need for public services keeps it running. Businesses will go come on of business if they do not sell their products or services. 4. blood with stakeholders- Citizens mustiness compensate taxes, while government must go out a stock (a) of accountability which is much broader than that of commercial enterprise. 5. Role of compute- For governments, public policies which must authorize how resources may be spent. Business enterprises bud depart ar managed internally. Section I 3 The three standards oscilloscope bodies in hesitation are the Governmental account Standards pecker panel (GASB).

The GASB sets bill and monetary reporting standards for state and local governmental organizations, including those not-for-profit organizations that are intractable to be state and local governments. The Federal Accounting Standards Acc ounting Advisory Board (FASAB). The FASAB ! establishes accounting standards for the federal government and its agencies unless objected to by one of the principals (the director of the occasion of management and budget, the comptroller cosmopolitan of the United States, and the secretary of the treasury). When the principals approve, the FASAB standards acquire GAAP. The Financial Accounting Standards Board (FASB). The FASB sets accounting and...If you want to get a full essay, rig it on our website: BestEssayCheap.com

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