[SOLVED] Government and Not-for-Profit Financial Reporting
Governmental accounting gives substantial recognition to budgets, with budgets being recorded in the accounts of the governmental unit. What is meant by budgetary accounting? What is the purpose of a governmental accounting system? Why is the budget recorded in the accounts of a governmental unit? Explain the purpose and significance of appropriations. Describe when and how a governmental unit records its budget, and closes out the budgetary accounts.
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