The financial statement users’, investors’, donors’ and academic researchers’ understanding of current accounting recognition and reporting guidance affect their ability to compare financial information issued by nonprofit universities, hospitals, fund-raising organizations and government agencies. The financial results reported by public nonprofit organizations is different from that reported by private nonprofit organizations. This study discusses the events that brought about the divergence in nonprofit financial accounting recognition and reporting,and illustrates specific differences.
Marsh, Treba and Fischer, Mary, "FASB/GASB Recognition and Reporting Differences: A Nonprofit Sector Perspective" (2011). Faculty Publications. Paper 8.