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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?

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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 ago
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