Government & Nonprofit Accounting

I need an explanation for this Accounting question to help me study.

The following critical elements must be addressed:

I. Governmental Organization: Select a local or state governmental organization and research its financial reports. (Massachusetts)

G. Describe the governmental organization’s fiduciary accounts, including the agency and trust funds it has.

III. Financial Reporting Compliance: In this section of your paper, you will determine whether the financial reporting of your chosen governmental organization and nonprofit organization is compliant with governing body standards.

A. Determine if the financial reporting for the governmental organization is compliant with the governing body’s standards, including:

i. Are the financial statements appropriate for their intended audience?

ii. Are all necessary components included?

iii. Are the financial reports easy to review?

B. Determine if the financial reporting for the nonprofit organization (Concord Consortium) is compliant with the governing body’s standards, including:

i. Are the financial statements appropriate for their intended audience?

ii. Are all necessary components included?

iii. Are the financial reports easy to review?

Paper should be 3–4 pages, double spaced, with one-inch margins, 12-point Times New Roman font, and formatting according to APA guidelines.