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Thursday, 30 September 2010

Objectives Of Government Accounting

Posted on 19:16 by Unknown
The following are the main objectives of government accounting:

* To record financial transactions of revenues and expenditures related to the government organizations.
* To avoid the excess expenditures beyond the limit of the budget approved by the government.
* To make expenditures according to the appropriate act, rules and legal provisions of the government.
* To provide reliable financial data and information about the operation of public fund.
* To prevent misappropriation of government properties by maintaining the systematic records of cash and store items.
* To facilitate for making auditing of the books of accounts.
* To help for preparing different financial statements and reports.
* To facilitate for estimating the annual budget by providing historical financial data of government revenues and expenditures.
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