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    Differences in reporting for-profit and not-for-profit

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    What differences exist in reporting guidance in a for-profit and not-for-profit organization? What similarities exist in reporting guidance in a for-profit and not-for-profit organization? How are comparability of financial reports affected by these differences and similarities? Should these reports be comparable? Explain your response.

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    https://brainmass.com/business/accounting/differences-in-reporting-for-profit-and-not-for-profit-404108

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    Q. What differences exist in reporting guidance in a for-profit and not-for-profit organization?

    A: For-profit firms give guidance about what they expect so that the investment community can decide whether their performance meets their requirements. Not all for-profit firms give guidance about expected earnings. The reasons some do, is to set expectations so that their owners and investors that may like to own the stock, can evaluate their prospects versus other investment opportunities.

    Not-for-profit firms do not share their expectations for profit as they do not record profits. Their goals for ...

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