Topic 1
Research using the GASB standards to find information to help you answer the following question: Do you think governmental and non-profit organizations should follow different accounting standards than for-profit organizations?
Requirements:
· 150 words
· Surce: GASB https://www.gasb.org/home
Topic 2
This week we reviewed Budgetary Accounting and the budgeting process. As defined in your textbook, appropriations are “an authorization for administrators to expend financial resources on behalf of the government not to exceed the amounts specified in the appropriation ordinance or statute, for the purposes set forth in that ordinance or statute, during the period of time specified.” Discuss what penalties or results would exist if an administrator were to expend more than the allotted amount on a particular expenditure. Give an example of how this might occur.
Requirements:
· 150 words
· Book: Reck, J. &Lowensohn,S. (2018). Accounting for Governmental and Nonprofit Entities, 18thed, York, NY: Mc-Graw Hill
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