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:

    I have no doubt that soldiers well drilled are, as a class, peculiarly destitute of originality and independence.... It is impossible to give the soldier a good education without making him a deserter. His natural foe is the government that drills him.
    Henry David Thoreau (1817–1862)

    Just as men must give up economic control when their wives share the responsibility for the family’s financial well-being, women must give up exclusive parental control when their husbands assume more responsibility for child care.
    Augustus Y. Napier (20th century)

    The true critic is a scrupulous avoider of formulae; he refrains from statements which pretend to be literally true; he finds fact nowhere and approximation always.
    —T.S. (Thomas Stearns)