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Why is applying the concept of interperiod equity

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Reference no: EM132936215

As an accounting professional, you are accustomed to using a budget as a financial decision-making tool, whereas in governmental and not-for-profit accounting, a budget is mandatory.

Problem 1: Why is the budget given this much importance at the government and non-for-profit levels?

Problem 2: Why is understanding and applying the concept of "interperiod equity" necessary in planning your organization's budget and its actual implementation?

Reference no: EM132936215

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