Federal government Budgeting And Accounting

 Essay about Federal Cost management And Accounting

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Federal Budgeting and Accounting

Cayce Harris

ACC-548

01-15-2015

Mindi Smedley

Federal Budgeting and Accounting

What roles perform accountants perform in taking care of government and not-for-profit organizations? According to Granof, " conventional, business-type management accounting focuses mainly on maximizing net inflow of cash. The aims of governments and not-for-profit businesses, of course , look fantastic beyond making the most of cash flow” (Granof, 2013). Accountants in government and not-for-profit organizations can perform several roles in the money management of that organization. You will find four tasks in the supervision cycle of governments and not-for-profits, staff of statisticians, economists, various other social man of science and accountancy firm, policy creators: congress, main executives; taxation team of accountants, along with statisticians, economists and experts in specific areas; and government agencies. The objectives of the first role of the cycle, Statisticians, economists, additional social scientist and accountancy firm, is to identify the need for applications, collect and analyze financial and other economic information, and perform a cost-benefit analysis. The aim for the other role, plan makers, is usually to selective between alternative applications and create policies and goals. The objectives of role three are to assess the efficiency and effectiveness of programs and report to plan makers. The objectives to get the on and last role in order to administer the programs and prepare monetary statements and other reports. Once these aims have been attained the circuit repeats by itself to ensure the success of the courses. How are government and not-for-profit organizations audited?

Government audits are grouped into 3 categories: economic audits, attestation engagements and satisfaction audits. Economical audits are more comfortable with determine if the financial statements of a particular entity are presented fairly in accordance with GAAP. These audits can also be used to...

References: Granof, M. (2013). Government but not For Income Accounting: Principles and Procedures, 6e. John Wiley and Sons, Inc.


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