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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Famous quotes containing the words government, financial and/or statements:
“We would be a lot safer if the Government would take its money out of science and put it into astrology and the reading of palms.... Only in superstition is there hope. If you want to become a friend of civilization, then become an enemy of the truth and a fanatic for harmless balderdash.”
—Kurt Vonnegut, Jr. (b. 1922)
“America is a nation with no truly national city, no Paris, no Rome, no London, no city which is at once the social center, the political capital, and the financial hub.”
—C. Wright Mills (1916–1962)
“We assume that politicians are without honor. We read their statements trying to crack the code. The scandals of their politics: not so much that men in high places lie, only that they do so with such indifference, so endlessly, still expecting to be believed. We are accustomed to the contempt inherent in the political lie.”
—Adrienne Rich (b. 1929)