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Differences between governmental-private sector accounting

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Reference no: EM133253526

In your assigned reading you reviewed the basic differences between governmental and private sector accounting. In this discussion we will focus specifically on the rules for reporting and the additional disclosures needed in the preparation of government-wide financial statements.

Discussion Questions

  1. What is the role of accountability and transparency in governmental financial statements?
  2. How are users of these financial statements able to judge whether the government's fiscal condition is sustainable?

As the discussion continues you are encouraged to pose additional questions, identify related articles which provide new or supporting information, and tie in similar topics in governmental accounting that confirm or challenge our analysis. 

Reference no: EM133253526

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