Assignment Details Many not-for-profit (NFP) organizations are charities that collect funds for special purposes. An example would be a research foundation that seeks a cure for cancer. To protect investors, business organizations and most NFP entities must use the guidelines set for by the Financial Accounting Standards Board (FASB) to show the results of operations in the form of annual financial statements. The Governmental Accounting Standards Board (GASB) governs governments for the same reason. Governments and NFP entities have an additional objective. Along with the annual results of their operations, government and NFP entities must show accountability for their results. For this unit, do the following:

Explain what constitutes accountability to you and why it is more important than profitability as a taxpayer and a donor to charity