Notes the characteristics that distinguishes government abd not$-$for$-$profit organizations from business organizations

Modified Accrual

Federal Accounting Standards Advisory Board $($FASAB$)$

Generally Accepted Accounting Principles $($GAAP$)$

Operational Accountability

Accountability

Financial Accounting Standards Board $($FASB$)$

Governmental Accounting Standards Board $($GASB$)$

Performance and Accountability Report $($PAR$)$

Special Purpose Governments

Basic Financial Statements

Fiscal Accountability

Government$-$Wide Financial Statements

Required Supplementary Information $($RSI$)$

Comprehensive Annual Financial Report $($CAFR$)$

Fund Financial Statements

Interperiod Equity

Service Efforts and Accomplishments $($SEA$)$

Donor$-$Imposed Restrictions

General Purpose Governments

Management's Discussion and Analysis $($MD&A$)$