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 am against government by crony.”
    —Harold L. Ickes (1874–1952)

    “... aside from the financial aspect, [there] is more: the life of my work. I feel that is all I came into the world for, and have failed dismally if it is not a success.”
    —Mary E. Wilkins Freeman (1852–1930)

    “There is a certain embarrassment about being a storyteller in these times when stories are considered not quite as satisfying as statements and statements not quite as satisfying as statistics; but in the long run, a people is known, not by its statements or its statistics, but by the stories it tells.”
    —Flannery O’Connor (1925–1964)