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Discuss the conceptual framework of accounting for federal agencies and compare it to the conceptual framework established by the GASB for state and local governments.

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Discuss the conceptual framework of accounting for federal agencies and compare it to the conceptual framework established by the GASB for state and local governments. Review the financial statements of a federal department/agency and include a specific example of reporting that would differ from that of a state and local government and note the difference(s)

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