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 Statements
Famous quotes containing the words government, financial and/or statements:
“The worst enemy of good government is not our ignorant foreign voter, but our educated domestic railroad president, our prominent business man, our leading lawyer.”
—John Jay Chapman (18621933)
“What people dont realize is that intimacy has its conventions as well as ordinary social intercourse. There are three cardinal rulesdont take somebody elses boyfriend unless youve been specifically invited to do so, dont take a drink without being asked, and keep a scrupulous accounting in financial matters.”
—W.H. (Wystan Hugh)
“The true critic is a scrupulous avoider of formulae; he refrains from statements which pretend to be literally true; he finds fact nowhere and approximation always.”
—T.S. (Thomas Stearns)