Question

In your own words, why is government accounting important? In your discussion identify news articles about your country where, in your opinion, transparency or accountability was lacking. Identify the causes and comment on whether good government accounting could have been part of the solution.

Answer 1

It keeps the record of public funds. Information about Revenues − One of the most important functions of the Government accounting is to maintain the transactions of generation and collection of revenues during the financial year (and maintain all the past years' financial data).

Features Of Government Accounting

• Profit And Loss. Since government is a public institution, its main objective is to maintain law and order in the country. ...
• Government Regulations. Government accounting is maintained according to government rules and regulations. ...
• Double Entry System. ...
• Budget Heads. ...
• Budgetary Control. ...
• Banking Transaction. ...
• Auditing.

In societies where the people will respond and follow up on their rights of action, the decisions and actions of
officials from the public and in the future there is nothing hidden from the people they affect. Because officials
are trying to answer and thus, systems and processes to occur, such as a new public accounting in America to
promote the role of government accountability have been significant changes. Accountability and transparency
are one, ie if the breakdown in response is not required to prove what you are looking for. Officials with
transparency and make the case that people have access to information and decisions taken by the authorities,
also have their own accountability and public confidence and maintain. Officials at different levels such as
strategy, planning, performance, processes, commitment and legitimacy should be held accountable and how
people can have more access to information and decisions adopted in the five levels of play, There is more
transparency