The CICA's Public Sector Accounting Board (PSAB)identified Nine Unique Characteristics

question 15

Essay

The CICA's Public Sector Accounting Board (PSAB)identified nine unique characteristics of governments that differentiate them from private sector reporting.List these nine characteristics.

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Definitions:

Work Sharing

An employment strategy that reduces work hours for a group of employees as an alternative to layoffs, aiming to distribute available work during downturns.

Labour Costs

Expenses related to compensating employees, including wages, salaries, benefits, and payroll taxes, significant for budgeting and financial planning.

Earnings Loss

The reduction in an individual's or entity's income, which can result from factors like unemployment, underemployment, or business downturns.

Destructive Stress

Impairs the performance of an individual.