This week's assignment will be a draft of Part 1 of the portfolio project. The final version of Part 1 of the project is due, along with Part 2, in their final versions, with Part 3 as the Portfolio Project for this class.

Discuss the governmental accounting concepts required to start the foundation and the advantages and disadvantages of adding this not-for-profit foundation. Also, discuss any ethical concerns with opening and/or operating this foundation based on ethical accounting principles.