Governmental accounting has some similarities to commercial accounting. For example, governmental accounting uses the double-entry system, journals, ledgers, trial balances, financial statements, internal control, etc. However, differences arise due to the objectives and environment of government. The major differences include
Before beginning the reading you should review the key terms at the end of the module.
A. The Governmental Accounting Standards Board
B. Governmental Accounting Concepts
C. The Governmental Reporting Model
D. The Reporting Entity
E. Management’s Discussion and Analysis
F. Government-Wide Financial Statements
G. Fund Financial Statements
H. Notes to the Financial Statements
I. Required Supplementary ...