solved Part 1 (300 words)During chapters 5-8, the class was introduced

Part 1 (300 words)During chapters 5-8, the class was introduced to a variety of topics, including accounting for capital projects, using the debt service fund to pay long term debt of the general government, using proprietary funds (enterprise and internal service), and fiduciary funds. From these units, please select one interesting GASB accounting standard that is different than normal accrual accounting used for private enterprises and discuss why you feel the GASB accounting treatment is better or worse for the readers of the financial statements.Part 2 (300 words)During chapters 9, 14, 15, and 16, the class was introduced to reconciling the fund financial statements to the government wide financial statements. The class was also introduced to non profit accounting. From these chapters, please select one aspect of government wide financial statements, the reconciliation to the government wide financial statements, or non profit accounting standards to discuss.