Service Efforts and Accomplishments reporting is relevant because:
A) SEA reporting provides more complete information about a government entity's performance than can be provided by the basic financial statements.
B) The GASB requires supplemental reporting of service efforts and accomplishments.
C) Enterprise fund statements do not do a good job of measuring efficiency or effectiveness.
D) All of the above.

Question

Quizplus · Accepted Answer

Government and not-for-profit effectiveness cannot be expressed solely in financial terms. Effectiveness in nonbusiness organizations must be measured in terms of the quality of the service provided or the extent to which an organization fulfills its mission. For this reason, many governments and not-for-profits report nonfinancial information in addition to their financial statements. The framework for combining this information is termed Service and Accomplishments reporting.

Service Efforts and Accomplishments Reporting Is Relevant Because