Compare and contrast proprietary fund reporting under GASB No.34 with GAAP financial reporting for non-governmental entities.

Compare and contrast proprietary fund reporting under GASB No.34 with GAAP financial reporting for non-governmental entities. Examine why GASB requires the direct method for cash flow statements in the proprietary funds instead of allowing the direct or indirect method

QuestionCompare and contrast proprietary fund reporting under GASB No.34 with GAAP financialreporting for non-governmental entities. Examine why GASB requires the direct method for cashflow...