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UOP ACC 460 Week 1 Case 1 .pdf


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UOP ACC 460 Week 1 Case 1-14 Research Case- Comparing
Financial Reporting Objectives NEW
Check this A+ tutorial guideline at
http://www.uopassignments.com/acc-460-uop/acc-460week-1-case-1-14-research-case-comparing-financialreporting-objectives

For more classes visit
http://www.uopassignments.com/

Review Ch. 1. Case 1-14, Research Case-GASB.
Write a 175- to 350-word response.
Compare the financial reporting needs of the resource
providers of government/not-for-profit organizations to the
financial reporting needs of the resource providers of forprofit organizations.
Click the Assignment Files tab to submit your Microsoft®
Word document.
1-14 Research Case—Comparing Financial Reporting
Objectives. GASB Concepts Statement No. 1, “Objectives of
Financial Reporting,” states that “Accountability is the
cornerstone of all financial reporting in government.” FASB
Statements of Financial Accounting Concepts Statement No.
8, “Conceptual Framework for Financial Reporting,” states
that “The objective of general purpose financial reporting is
to provide financial information about the reporting entity
that is useful to existing and potential investors, lenders, and
other creditors in making decisions about providing
resources to the entity.” However, the FASB has

acknowledged through Statement of Financial Accounting
Concepts No. 4, “Objectives of Financial Reporting by
Nonbusiness Organizations,” that users of business and notfor-profit entities differ.
Required
Compare the financial reporting needs of the resource
providers of government/not-for-profit organizations to the
financial reporting needs of the resource providers of forprofit organizations.


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