Search results
Results from the WOW.Com Content Network
There is an important difference between private sector accounting and governmental accounting. The main reasons for this difference is the environment of the accounting system. In the government environment, public sector entities have different goals, as opposed to the private sector entities' one main goal of gaining profit.
The Governmental Accounting Standards Board (GASB) is the source of generally accepted accounting principles (GAAP) used by state and local governments in the United States. [1] As with most of the entities involved in creating GAAP in the United States, it is a private, non-governmental organization.
The UK Government publishes annual accounts for the whole of government. [1] It aims to provide more complete data for fiscal planning by producing consolidated financial statements. The accounts are produced in accordance with the International Financial Reporting Standards and independently audited by the Comptroller and Auditor General. [2]
Government auditing standards and circular A-133 audits, with conforming changes as of February 1, 2012: 28-10: 2013: Government auditing standards and circular A-133 audits, February 1, 2013: 28-11: 2014: Government auditing standards and circular A-133 audits, February 1, 2014: 28-12: 2015: Government auditing standards and single audits ...
The Governmental Accounting Standards Board Statements (GASB Statements or GASBS) are issued by GASB to set generally accepted accounting principles (GAAP) for state and local governments in the United States of America. These statements are the most authoritative source for governmental GAAP.
An Annual Comprehensive Financial Report (ACFR), formerly called a Comprehensive Annual Financial Report (CAFR)) [1] is a set of U.S. government financial statements comprising the financial report of a state, municipal or other governmental entity that complies with the accounting requirements promulgated by the Governmental Accounting Standards Board (GASB).
There's no "stock," per se, in the federal government, but there are still auditors who assess the government's performance at agencies such as the Government Accounting Office, the Congressional ...
An example of the different treatment under cash and accrual accounting of a government's purchase of a building: Under cash accounting: The government's budget surplus decreases (or deficit increases) by the amount of cash used (or debt incurred) to acquire the building in the year the government takes ownership. After the year of acquisition ...