ACC 630 Week 1 Discussion 1 Updated
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ACC 630 Week 1 Discussion 1 Updated
Read the journal article “Cracking the Nonprofit Accounting Code.” (Links to an external site.)
Based on the information presented in the article, discuss
a. How and why does the accounting system used by governmental/nonprofit entities differ from the system used by for-profit entities?
b. How does the annual financial report of a governmental/nonprofit entity differ from the report of a for-profit entity?
c. The user of a for-profit financial report is usually interested in the bottom line, net income. What are some top interests of the user of the financial reports of a governmental/nonprofit entity? Reference this week’s lecture to support your post.