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October 26, 2022

Governmental/Nonprofit Accounting System

Governmental/Nonprofit Accounting System

Governmental/Nonprofit Accounting System [CLO: 1]. 1st Post Due by Day 3. Read the journal article “Cracking the Nonprofit Accounting Code.” Based on the information presented in the article, discuss:

How and why does the accounting system used by governmental/nonprofit entities differ from the system used by for-profit entities?

How does the annual financial report of a governmental/nonprofit entity differ from the report of a for- profit entity?

The user of a for-profit financial report is usually interested in the bottom line, net income. What are some top interests of the user of the financial reports of a governmental/nonprofit entity? Reference this week’s lecture to support your post.

DQ2 Governmental and Business-Type Activities [CLOs: 1, 2]

Governmental and Business-Type Activities [CLOs: 1, 2]. 1st Post Due by Day 3. State or local government entities can engage in governmental activities as well as business-type activities. Provide two examples of each activity type. Discuss how and why accounting and financial reporting differs between the two types. Reference this week’s lecture to support your post.

Respond to at least two of your classmates’ posts.

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