So we know that all three models (private, investor owned, and public schools) have distinctions on which a standards setting body provides their accounting rules. We also know that they all use accrual accounting (economic resource measurement focus). One of the reasons it is important to distinguish between them is knowing which standard setting body governs which.
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One more important reason of the need to distinguish between the three models - private, investor owned, and public schools - is to be able to understand how similar transactions are accounted under each ...
The solution distinguishes between private, investor owned and public schools.