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Section I-2 Five environmental differences between politicss and for-profit stage business enterprises atomic number 18: 1. agreement purpose- commercially, generating profit for owners. The purpose of government is to enhance or economise the well-being of citizens by providing commonplace run in agreement with public policy goals. 2. reservoir of revenue - The monger theme of revenue for government is appraiseation, which is a legally mandated instinctive deed between individual citizens and businesses and their government. The whiz source of revenue of business enterprises is voluntary exchange proceeding between will buyers and sellers. 3. possible for longevity-Governments ongoing power to tax and need for public services keeps it running. Businesses will go come forth of business if they do not sell their products or services. 4. consanguinity with stakeholders- Citizens mustiness compensate taxes, eyepatch government must butt on a stock(a) of accountability which is untold broader than that of commercial enterprise. 5. Role of calculate- For governments, public policies which must authorize how resources may be spent. Business enterprises budget ar managed internally. Section I 3 The three standards setting bodies in hesitation are the political account Standards instrument panel (GASB).

The GASB sets news report and m unitarytary report standards for state and local political organizations, including those not-for-profit organizations that are intractable to be state and local governments. The federal official Accounting Standards Accounting informatory Board (FASAB). The FASAB establishes accounting standards for the federal government and its agencies unless objected to by one of the principals (the director of the office of charge and budget, the comptroller cosmopolitan of the unite States, and the secretary of the treasury). When the principals approve, the FASAB standards become GAAP. The pecuniary Accounting Standards Board (FASB). The FASB sets accounting and...If you want to get a full essay, rig it on our website: Ordercustompaper.com

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