Chapter 12, Problem 3DYS

Read the following journal article: “25 Years of State and Local Governmental Financial Reporting—An Accounting Standards Perspective,” The Government Accountants Journal, Fall 1992.

  Or, as an alternative possibility, do a search of books in the college library for advanced accounting textbooks or government accounting textbooks that were published prior to 2000.

Required

Accounting for state and local governments has changed considerably in the last 10–20 years. Write a report to highlight some of the differences you noted between the process described before 2000 and the process that has been presented in this chapter and the preceding one in this textbook.