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
Read more about this topic: Financial Statement
Famous quotes containing the words government, financial and/or statements:
“Our government is founded upon the intelligence of the people. I for one do not despair of the republic. I have great confidence in the virtue of the great majority of the people, and I cannot fear the result.”
—Andrew Jackson (1767–1845)
“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)
“A sentence is made up of words, a statement is made in words.... Statements are made, words or sentences are used.”
—J.L. (John Langshaw)