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FASB Concepts Statement 1 says that the primary focus of business enterprise financial reporting is information about an enterprise's performance provided by measures of earnings
FASB Concepts Statement 1 says that the primary focus of business enterprise financial reporting is information about an enterprise's performance provided by measures of earnings and its components. Contrast the notion of performance in business enterprises with that of not-for-profit and governmental organizations, and discuss how the difference might affect the nature of financial reporting among the various types of entities.
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