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ID:40070816
大小:135.91 KB
页数:34页
时间:2019-07-19
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1、WHYGOVERNMENTALACCOUNTINGANDFINANCIALREPORTINGIS—ANDSHOULDBE—DIFFERENTExecutiveSummaryGovernmentsarefundamentallydifferentfromfor-profitbusinessenterprisesinseveralimportantways.Theyhavedifferentpurposes,processesofgeneratingrevenues,stakeholders,budgeta
2、ryobligations,andpropensityforlongevity.Thesedifferencesrequireseparateaccountingandfinancialreportingstandardsinordertoprovideinformationtomeettheneedsofstakeholderstoassessgovernmentaccountabilityandtomakepolitical,social,andeconomicdecisions.Althoughs
3、tateandlocalgovernmentsintheUnitedStateshavehadseparatestandardsforover100years,occasionallythequestionisraised:Whycan’tgeneralpurposegovernments(citiesandcounties,forexample)simplyapplythestandardsestablishedforbusinessenterprises?1Thefollowingquestions
4、andanswersbrieflyaddressthatissue,andtheaccompanyingpaperanditsappendixesprovideanexpandeddiscussion.WhyAreSeparateAccountingandFinancialReportingStandardsEssentialforGovernments?Separateaccountingandfinancialreportingstandardsareessentialbecausetheneeds
5、ofusersoffinancialreportsofgovernmentsandbusinessenterprisesdiffer.Duetotheiruniqueoperatingenvironment,governmentshavearesponsibilitytobeaccountablefortheuseofresourcesthatissignificantlydifferentfrombusinessenterprises.Althoughbusinessesreceiverevenues
6、fromavoluntaryexchangebetweenawillingbuyerandseller,governmentsobtainresourcesprimarilyfromtheinvoluntarypaymentoftaxes.Taxespaidbyanindividualtaxpayeroftenbearlittledirectrelationshiptotheservicesreceivedbythattaxpayer.Overall,taxpayerscollectivelyfocus
7、onassessingthevaluereceivedfromtheresourcestheyprovidetogovernment.Governmentalaccountingandfinancialreportingstandardsaimtoaddressthisneedforpublicaccountabilityinformationbyhelpingstakeholdersassesshowpublicresourcesareacquiredandused,whether1Thetermbu
8、sinessenterpriseisusedtorefertoprivate-sectorentitiesorganizedforthepurposeofearningprofit.BusinessenterprisesintheUnitedStatesapplyaccountingpronouncementsoftheFinancialAccountingStandardsBoard.Businessenterprisedoesnotre
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