You are needing to prepare financial statements for a Public Health Center, but before this you need to review the financial reporting requirements for governmental and nonprofit organizations.

IN YOUR OWN WORDS (400-500) determine the following:

1) The governing authority for regulating the financial reporting of both governmental and nonprofit organizations.

2) The financial statements required.

3) What is required in the notes and other narratives in the annual report?

(copying and pasting with no legitimate references does not help with further research or learning as it is stealing another person's thoughts)