Accounting at Governmental and Nonprofit Organizations
The differences in the accounting between for-profit organizations, on one hand, and governmental and nonprofit organizations,1 on the other, start with their organizational mission statements: For-profit organizations are primarily about making money and return on investment.2 Governments and nonprofit organizations are set up to provide specific services (e.g., national defense, international trade, health care, a clean environment, policing, schooling) for a targeted group of constituents, and the services are often difficult if not impossible to express in monetary terms.
This chapter will briefly review some of the key differences between the accounting treatment required in ...
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