1.) In this discussion question, you will describe the rationale for using fund accounting.
Describe the various types of funds that are used by governments and not-for-profit organizations. How are they related? Why do governments and not-for-profit organizations use fund accounting? Is fund accounting required by both types of organizations?
One page with references
2.) In this discussion question, you will discuss the importance of the budgets and the role budgets fulfill in governments and not-for profit organizations.
Why are budgets important for governments and NFPs? What types of budgets are prepared? How do these organizations prepare the budgets and on what accounting basis is used to prepare the budgets? How do budgets help these organizations?
One page with references
Two page essay in total that answers the two questions individually