Need a small discussion on the below-given discussion topic, discussion should highlight good point of topic and some point of argument and solution on the argument on the below topic

"Three differences between government accounting and profit-business accounting are accounting standards, statements, and reporting. These distinctions lead directly to differences in accounting methods. Government agencies don't have to worry about capital costs, depreciation, or satisfying shareholders. However for-profit businesses have to concern themselves with those things because that's the reason private businesses exist. According to Teenboom L; The Government Accounting Standards Board (GASP), notes four basic differences in government accounting vs. for-profit business accounting: Governments serve a broader group of stakeholders than profit businesses, including taxpayers, citizens, elected representatives, oversight groups, bondholders, and others in the financial community (2018). Nonprofits, government agencies, and for-profits all follow GAAP, government agencies must also follow GASB or Government Accounting Standards Board while for-profits follow FASB. The three main financial statements that governments use in their reporting are; statements of activities, statements of cash flows, and statements of net assets. These statements are similar to balance sheets used by profit businesses. For government accounting financial statements summarize the assets and liabilities and show the net assets of the business. Government organizations must assemble a CAFR, Comprehensive Annual Financial Report every year while profit businesses generally also file annual financial reports, called annual reports."