Describe and explain at least 3 differences in for-profit entities and governmental agencies that cause them to have different required accounting procedures; include an example of each.

Type: Individual Project

Unit:  Governmental Bookkeeping
Due Date:  Sun, 10/9/16
Grading Type: Numeric
Points Possible:  100
Points Earned:  0
Deliverable Length:  5–10 slides with speaker notes
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For your next orientation meeting with your new hire, and to be helpful when other new accountants are hired, prepare a PowerPoint presentation of 5–10 slides with speaker notes that includes the following:

  • Describe and explain at least 3 differences in for-profit entities and governmental agencies that cause them to have different required accounting procedures; include an example of each.
  • At least 1 slide should explain which regulating authority oversees the accounting rules for governmental vs. for-profit entities. Include an example and brief explanation, in your own words, of the most recent new guideline established by the agency overseeing government accounting.Access the following Web site: www.gasb.org/st/stpg.html.
  • At least 1 slide should explain at least 2 differences between governmental entities and nonprofit, nongovernmental agencies, including an example of each difference.

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