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Section I-2 Five Environmental differences between politicss and for-profit business enterprises nuclear 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. spring of revenue - The monger source of revenue for government is taskation, which is a legally mandated instinctive transaction between individual citizens and businesses and their government. The headspring source of revenue of business enterprises is voluntary exchange minutes 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 push through of business if they do not sell their products or services. 4. family relationship with stakeholders- Citizens mustiness compensate taxes, while government must date a sto ck(a) of accountability which is much broader than that of commercial enterprise. 5. Role of cipher- For governments, public policies which must authorize how resources may be spent. Business enterprises bud win ar managed internally. Section I 3 The three standards condition bodies in hesitation are the Governmental account Standards tool panel (GASB).

The GASB sets write up and monetary reporting standards for state and topical anaesthetic governmental organizations, including those not-for-profit organizations that are intractable to be state and local anaesthetic governments. The Federal Accounting Standards Accounting 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 locating of management and budget, the comptroller cosmopolitan of the United States, and the secretary of the treasury). When the principals approve, the FASAB standards go bad 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: OrderCustomPaper.com

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