Response to the following:
Objectives:
• Analyze accounting and reporting requirements for not-for-profit organizations
• Evaluate specific transactions related to not-for-profit organizations
• Identify specific transactions related to governmental entities
• Improve research and oral and written communication skills, and reinforce ethical and professional business conduct
• Understand accounting and reporting requirements for governmental entities
How will accomplishing these objectives support your success in accounting? What risks or challenges might an accountant encounter if they have not mastered these objectives? Explain.