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Why is understanding the concept of interperiod equity

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Reference no: EM132935144

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.

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

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

Reference no: EM132935144

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