Financial Statements - Government Financial Statements

Government Financial Statements

See also: Fund accounting

The rules for the recording, measurement and presentation of government financial statements may be different from those required for business and even for non-profit organizations. They may use either of two accounting methods: accrual accounting, or cash accounting, or a combination of the two (OCBOA). A complete set of chart of accounts is also used that is substantially different from the chart of a profit-oriented business

Read more about this topic:  Financial Statements

Famous quotes containing the words government, financial and/or statements:

    The Republican form of government is the highest form of government; but because of this it requires the highest type of human nature—a type nowhere at present existing.
    Herbert Spencer (1820–1903)

    In full view of his television audience, he preached a new religion—or a new form of Christianity—based on faith in financial miracles and in a Heaven here on earth with a water slide and luxury hotels. It was a religion of celebrity and showmanship and fun, which made a mockery of all puritanical standards and all canons of good taste. Its standard was excess, and its doctrines were tolerance and freedom from accountability.
    New Yorker (April 23, 1990)

    He admired the terrible recreative power of his memory. It was only with the weakening of this generator whose fecundity diminishes with age that he could hope for his torture to be appeased. But it appeared that the power to make him suffer of one of Odette’s statements seemed exhausted, then one of these statements on which Swann’s spirit had until then not dwelled, an almost new word relayed the others and struck him with new vigor.
    Marcel Proust (1871–1922)