Question
In: Accounting
Why such a different type of accounting for not-for-profits and municipalities has been developed and used?
Why such a different type of accounting for not-for-profits and municipalities has been developed and used?
Solutions
Expert Solution
in this picture we describe the difference of municipality accounting with the profit accounting where as in another we discussed the profit accounting and non profit organisation accounting.
A nonprofit entity is one that has no ownership interests, has an operating purpose other than to earn a profit, and which receives significant contributions from third parties that do not expect to receive a return. Where as the municipality if the local self government of urban area.the Municipality accounting system how they maintain their accounting system to deal different work in finance form and other activities
ekkarill92 answered 1 year agoRelated Solutions
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B. Globally, accounting standards are developed based on different methods. It is generally agreed that the...
B. Globally, accounting standards are developed based
on different methods. It is generally agreed that the
nature of accounting standards depends on the systems of
regulation. It has been argued that there are two
main systems of regulation.
Required:
Identify and explain the difference between the two systems of
regulation, stating clearly which system
you believe describes the International Financial Reporting
Standards (IFRS)
B. Globally, accounting standards are developed based
on different methods. It is generally agreed that the
nature...
Globally, accounting standards are developed based on different methods. It is generally agreed that the nature...
Globally, accounting standards are developed based on different
methods. It is generally agreed that the nature of accounting
standards depends on the systems of regulation. It has been argued
that there are two main systems of regulation.
Required: Identify and explain the difference between the two
systems of regulation, stating clearly which system you believe
describes the International Financial Reporting Standards
(IFRS)
Globally, accounting standards are developed based on different methods. It is generally agreed that the nature...
Globally, accounting standards are developed based on
different methods. It is generally agreed that the nature of
accounting standards depends on the systems of regulation. It has
been argued that there are two main systems of regulation.
Required:
Identify and explain the difference between the two systems of
regulation, stating clearly which system you believe describes the
International Financial Reporting Standards (IFRS)
B. Globally, accounting standards are developed based on different methods. It is generally agreed that the...
B. Globally, accounting standards are developed based
on different methods. It is generally agreed that the
nature of accounting standards depends on the systems of
regulation. It has been argued that there are two
main systems of regulation.
Required:
Identify and explain the difference between the two systems of
regulation, stating clearly which system
you believe describes the International Financial Reporting
Standards (IFRS)
outline the factors which have been used to explain why historically there has been diversity in...
outline the factors which have been used to explain why
historically there has been diversity in accounting practices
internationally
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