＂The objectives of this, the seventh edition of Government and Not-for-Profit Accounting: Concepts and Practices, remain unchanged from those of the previous editions. Above all, the text aims
to make students aware of the dynamism of government and not-for-profit accounting and of the intellectual challenges that it presents. Government and not-for-profit accounting has changed
dramatically in the past few decades. For certain, the nature of governments and not-for-profit organizations and the transactions in which they engage will continue to evolve further in the
future. Therefore, so too must the corresponding accounting. For the most part, the accounting issues faced by governments and not-for-profit organizations are far less tractable than those
encountered by businesses. Businesses have the luxury of directing attention to profits--a metric that is relatively easy to define--inasmuch as the overriding objective of businesses is to
earn a profit. Governments and not-for-profit entities, by contrast, have broader, much less clear-cut goals. They must determine not only how to measure their performance but also what to
measure. Hence, the accounting profession is almost certain to be dealing with fundamental questions throughout the professional careers of today’s students, and the pace of rapid change will
continue unabated＂--
