Why gasb requiring raw sets of financial statements

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Reference no: EM13215467

"Government Financial Reporting" Please respond to the following:

1) Discuss the rationale for GASB requiring raw sets of financial statements, each with a different measurement focus and basis for accounting for government activities. Do you agree with this rationale or not? Explain why.

2) From the third e-Activity, compare and contrast the GASB standards setting process and the process used by the FASB to set financial accounting standards. Which method do you think is the most effective? Explain.

Reference no: EM13215467

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