What is the GASBs rationale for requiring two sets of financial statements, each with a different measurement

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What is the GASB’s rationale for requiring two sets of financial statements, each with a different measurement focus and basis of accounting for governmental activities?

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Core Concepts of Government and Not For Profit Accounting

ISBN: 978-0471737926

2nd edition

Authors: Michael H. Granof, Penelope S. Wardlow

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Question Posted: Apr 29, 2015 02:28 AM

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What is the GASBs rationale for requiring two sets of financial statements, each with a different measurement

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The GASB realized that there was a conflict between its objectives of reporting on interperiod e...View the full answer

Core Concepts of Government and Not For Profit Accounting

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