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Government accounting refers to the process of recording and the management of all financial transactions incurred by the government which includes its income and expenditures. Various governmental accounting systems are used by various public sector entities.
The United States Government Accountability Office (GAO) is an independent, nonpartisan government agency within the legislative branch that provides auditing, evaluative, and investigative services for the United States Congress. [2] It is the supreme audit institution of the federal government of the United States.
An account manager (AM) is a person who works for a company and is responsible for the management of sales and relationships with particular customers.An account manager maintains the company's existing relationships with a client or group of clients, so that they will continue using the company for business.
income accounts, which show primary and secondary income flows—both the income generated in production (e.g. wages and salaries) and distributive income flows (predominantly the redistributive effects of government taxes and social benefit payments). The balancing item of the accounts is disposable income ("National Income" when measured for ...
"Accountability" derives from the late Latin accomptare (to account), a prefixed form of computare (to calculate), which in turn is derived from putare (to reckon). [6] While the word itself does not appear in English until its use in 13th century Norman England, [7] the concept of account-giving has ancient roots in record-keeping activities related to governance and money-lending systems ...
Most government budgets are calculated on a cash basis, meaning that revenues are recognized when collected and outlays are recognized when paid. Some consider all government liabilities, including future pension payments and payments for goods and services the government has contracted for but not yet paid, as government debt. This approach is ...
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The Central Contractor Registration (CCR) was the primary supplier database for the U.S. Federal government until July 30, 2012. In October 1993, President Bill Clinton issued a memorandum that required the Government to reform its acquisition processes. Subsequently, the Federal Acquisition Streamlining Act of 1994 was passed, requiring the ...