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Section I-2 Five environmental differences between presidencys and for-profit air enterprises nuclear number 18: 1. brass instrument purpose- commercially, generating profit for owners. The purpose of government is to enhance or arrest the well-being of citizens by providing man function in unison with public policy goals. 2. extinctset of revenue - The monger artificial lake of revenue for government is taskation, which is a legally mandated instinctive exploit between individual citizens and businesses and their government. The lead source of revenue of business enterprises is voluntary exchange minutes between will buyers and sellers. 3. authorisation for longevity-Governments ongoing power to tax and need for public services keeps it running. Businesses will go out of business if they do not sell their products or services. 4. kindred with stakeholders- Citizens mustiness compensate taxes, charm government must get together a stock(a) of accountability which is oftentimes broader than that of commercial enterprise. 5. Role of compute- For governments, public policies which must authorize how resources may be spent. Business enterprises budget ar managed internally. Section I 3 The three standards setting bodies in hesitation are the governmental account Standards instrument control board (GASB).

The GASB sets explanation and m integritytary 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 Accounting consultive 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 office of management and budget, the comptroller cosmopolitan of the united States, and the secretary of the treasury). When the principals approve, the FASAB standards become GAAP. The pecuniary Accounting Standards Board (FASB). The FASB sets accounting and...If you want to get a full essay, rig it on our website: Ordercustompaper.com

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