Governments and not-for-profits do not exist to "make a profit" but to provide services. Unquestionably, constituents...

Governments and not-for-profits do not exist to "make a profit" but to provide services. Unquestionably, constituents of both governments and not-for-profits are no less interested in what the organization has accomplished than they are in financial data, such as revenues and expenditures / expenses. How can you justify an accounting model and the resultant financial statements that fail not only to measure and report accomplishments but also to relate them to an entity’s revenues and expenditures / expenses.

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Refer to the below image for the above asked question , in a detailed way of explanation.

ekkarill92 answered 1 year ago

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