Two handbooks that serve as a basis for each state's financial data reporting system for the National Center for Education Statistics are compared as part of the Education Data Improvement Project of the Council of Chief State School Officers. The Project's goal is to improve the quality of data submitted to the common core of data of the Center. The two handbooks are: (1) "Financial Accounting: Classifications and Standard Terminology for Local and State School Systems" (1973) (designated as 2R); and (2) "Financial Accounting for Local and State School Systems" (1980) (designated as 2R-squared). A survey of 30 states revealed that seven states used 2R, 15 used 2R-squared, two used a hybrid of the two handbooks, and six used earlier versions of the handbooks or some other source. The analysis of the revenues and expenditures ledgers in the two handbooks illustrate a number of points at which they differed; these are discussed and summarized in six tables. Appendices summarize the revenues and expenditures ledgers for the handbooks. (SLD)