Accounting Standards
Not what you're looking for?
Is it really possible to have one set of standards for all organizations?
Purchase this Solution
Solution Summary
The solution determines if it is possible to have one set of standards for all organizations.
Solution Preview
Please find my response below.
It is not possible to have one set of standard for all types of organizations. Over recent years, there has been significant growth in the government and not-for-profit sector which now consists of more than 87,000 local government agencies and more than one million not-for-profit entities. Consequently any comprehensive accounting program should include a study of government and not-for-profit accounting.
Governments and not-for-profits differ significantly from businesses in ways which have profound implications for financial reporting. To begin with, the primary goal of governments and not-for-profits is to provide some service to constituents and not to earn a ...
Purchase this Solution
Free BrainMass Quizzes
Motivation
This tests some key elements of major motivation theories.
Cost Concepts: Analyzing Costs in Managerial Accounting
This quiz gives students the opportunity to assess their knowledge of cost concepts used in managerial accounting such as opportunity costs, marginal costs, relevant costs and the benefits and relationships that derive from them.
Change and Resistance within Organizations
This quiz intended to help students understand change and resistance in organizations
Production and cost theory
Understanding production and cost phenomena will permit firms to make wise decisions concerning output volume.
Academic Reading and Writing: Critical Thinking
Importance of Critical Thinking