You have worked for the past couple of years on audits of city and county governments, and now have the opportunity to work on auditing federal government accounting. As part of preparation for working in the new role, describe in detail how the objectives of the FASAB conceptual framework differ from the objectives of GASB.
This Assignment is not as difficult as it may look. You do not need to recalculate any of the numbers when you recast the financial statements in either
This Assignment is not as difficult as it may look. You do not need to recalculate any of the numbers when you recast the financial statements in either direction-the difference is simply the WAY the balance sheet, the income statement, or the statement of cash flow is presented under US GAAP