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whats the difference between public finance and accounting and finance and accounting?

Asked by: Lebo 447 days ago - 1 Answers - 1375 views

1 Answers

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Accounting requirements are different for the public, private, and government sectors. The differences are many, but highlights are the following….
Public – required to follow Generally Accepted Accounting Principles
Private – more relaxed rules than for public but still subject to IRS
Government – have a lot of exceptions and different types depending on grants, who income source is, etc.
Accounting requirements are different for the public, private, and government sectors. The differences are many, but highlights are the following….
Public – required to follow Generally Accepted Accounting PrinciplesPrivate – more relaxed rules than for public but still subject to IRSGovernment – have a lot of exceptions and different types depending on grants, who income source is, etc.

Answer by Rick 446 days ago

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