What regulatory bodies are involved in accounting for
governmental and not-for-profit entities?
How and what do these regulatory bodies regulate?
Answer:
Government and NPO entities administrative bodies or regulatory bodies:
i) Governmental Accounting Standards Board .
ii) Nonprofit Accounting Standards .
iii) International Center Not-for-Profit Law’s NGO Law
Monitor
.
How and what do these regulatory bodies control or regulate:
The budget summaries or financial statements including balance sheet, income statement, cash statement and investors' equity are controlled by the administrative bodies. Along, with auspicious audits and quarterly reporting these administrative bodies direct the entities.
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