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Which organizations set the standards for state and local governments? For private not-for-profits? How are these...

  1. Which organizations set the standards for state and local governments? For private not-for-profits? How are these two organizations related?
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Answer #1

the standards for state and local government as well as for non profit organizations are set by different organizations but they related to each other

the Governmental Accounting Standard Board(GASB) set the standard for state and local governments and the organization named Financial Accounting Standard Boars (FASB) sets accounting rules for non profit organizations

the FASB and GASB are related because theb general purpose of both the organization are same. they both are focused on ensuring that accounting and financial reporting activities are accurate and reliable and to ensure the financial activities are beneficial to the end users.the end users are always the public

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