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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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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.

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