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Government and not-for-profit organizations should use the same standards for accounting. The reason for reporting for these entities is to demonstrate to all those who have a stake in the organizations' that they are "accountable" for their financial condition.

Granof explains in his article from the CPA Journal (2020), that the GASB standards should be expanded "to include all accounting standards". His reasoning is that the GASB standards have "improved government reporting".

Both government accounting and not-for-profit organizations are like business accounting practices in as much as they are demonstrating "accountability" and "transparency", but the stakeholders for these two similar entities are looking at differences in goals and accomplishments. Granof makes the point that the differences in regular businesses and government/not-for- profit organizations are that businesses are "looking for profit" and government/not-for-profit entities are in business to "provide services". Both are wanting to experience success.