Government Financial Statements
See also: Fund accountingThe 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
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“In so far as the statements of geometry speak about reality, they are not certain, and in so far as they are certain, they do not speak about reality.”
—Albert Einstein (18791955)