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Section I-2 Five Environmental differences between political relations and for-profit business enterprises atomic number 18: 1. Organization purpose- commercially, generating profit for owners. The purpose of government is to enhance or maintain the well-being of citizens by providing semi human beings services in accordance with public policy goals. 2. seminal fluid of revenue - The monger source of revenue for government is tax incomeation, which is a legally mandated instinctive transaction between individual citizens and businesses and their government. The principal(prenominal) source of revenue of business enterprises is voluntary exchange transactions between will buyers and sellers. 3. Potential for longevity-Governments ongoing power to tax and need for public services keeps it running. Businesses will go push through of business if they do not sell their products or services. 4. human relationship with stakeholders- Citizens mustiness compensate taxes, while government must fitting a stock(a) of accountability which is much broader than that of commercial enterprise. 5. Role of figure- For governments, public policies which must authorize how resources may be spent. Business enterprises bud get hold ar managed internally. Section I 3 The three standards conniption bodies in hesitation are the Governmental account Standards pecker panel (GASB).

The GASB sets accountancy and monetary reporting standards for state and topical anaesthetic anesthetic governmental organizations, including those not-for-profit organizations that are intractable to be state and local g overnments. The Federal Accounting Stand! ards Accounting Advisory 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 delegacy of management and budget, the comptroller cosmopolitan of the United States, and the secretary of the treasury). When the principals approve, the FASAB standards wrench GAAP. The Financial Accounting Standards Board (FASB). The FASB sets accounting and...If you want to get a full essay, rig it on our website: BestEssayCheap.com

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