Almost all issues addressed in this text—revenue and expense recognition, asset and liability valuation, the scope of the reporting entity, reporting cash flows, etc. —have counterparts in business accounting. By emphasizing concepts, rather than rules and procedures, the text ensures that students will gain insight into how and why the issues may have been resolved either similarly or differently in the business sector. So, unlike other government and NFP accounting texts, Granof 4e is directed for both potential users and preparers of financial reports.