Accounting and Reporting Differences

Read the White Paper that I attached below, there are numerous differences between governments and for-profit organizations relate to capital assets and major revenue sources.Using the information in the White Paper and your knowledge from your financial accounting courses, discuss why there are accounting and reporting differences related to capital assets and the organizations’ major revenue sources (sales and property tax revenues).

APA styles, 250 words

Answer preview………..

There are several differences between accounting and reporting for for-profit organization and government. For-profit organizations and the government have various types of accounting and reporting since a for-profit organization concentrates on increasing their while the government focuses on servicing the society. This document, therefore, discusses reasons behind differences in accounting and reporting involving government and for-profit organization focusing on capital assets and sources of revenue………

APA 290 words