Differences between government and private sector

Explain what you feel the major differences are between the government-wide statement of activities and the income statements prepared in the private sector. Do you think the government-wide statements provide more information than private sector income statements? Please provide examples and explanation to support your answers.

Solution Summary

This solution is comprised of a detailed explanation to explain what you feel the major differences are between the government-wide statement of activities and the income statements prepared in the private sector and answer as to whether you think the government-wide statements provides more information than private sector income statements.