Government accounting is the authorizing, tracking and recording
of revenue and expenditures. It can govern how taxes are raised and
how the executive of a government spends the proceeds.
Government accounting is the authorizing, tracking and recording
of revenue and expenditures. It can govern how taxes are raised and
how the executive of a government spends the proceeds.
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The GAO : Government Accounting Office for one ,
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Fund accounting is the most important principle of government
accounting. Separate funds are used to make it easier to account
for all governmental costs.
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advantage modified accrual accounting in government
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The biggest difference is that government account is non-profit
and based on funds....also called fund accounting. They do not have
profits. Financial accounting tracks income and have or hope to
have a profits.