This government and not-for-profit (NFP) accounting text is designed for potential users and preparers of financial reports. The emphasis is on teaching students the significance of reported information and showing how both users (managers, investors, taxpayers, legislators, trustees) and preparers can interpret and analyze accounting information. In response to changes in standards (FASBs 116 & 117), this text is organized around the issues that government and NFPs face, not by types of organization. This gives readers the opportunity to see how these standards are common to all NFPs and to make comparisons between FASBs and GASBs. The author hopes that students will learn that while similarities and differences do exist between governmental, NFP and business accounting, an understanding of all are necessary for success in the accounting profession.