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Description
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Revised and updated with the latest GASB pronouncements Granof’s Third Edition introduces students to the dynamic nature of government and not-for-profit accounting and to the intellectual challenges that it presents. The text keeps students up-to-date with current accounting and reporting standards and practices in government and not-for-profit accounting. But more importantly, the text emphasizes the reasons behind the standards and practices, their strengths and limitations, and possible alternatives.
Unlike other government and NFP accounting texts, Granof’s Third Edition is intended for both potential users and preparers of financial reports. Throughout, the emphasis is on the significance of reported information and how both users and prepares can interpret and analyze accounting information.
The text focuses on concepts rather than rules and procedures. This approach helps students gain insight into how and why issues such as revenue and expense recognition, asset and liability valuation, and the scope of the reporting entity, could be resolved either similarly or differently in the business sector.
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