OVERVIEW OF GOVERNMENT ACCOUNTING

Accounting is _____

is a system that measures business activities, processes that information into reports and communicates the results to decision makers.

It is the art of recording, classifying and summarizing in a significant manner and in terms of money, transactions and events which are, in part at least of financial character, and interpreting the results thereof

refers to the accounting system implemented and followed by the government offices to record the financial transactions of the government.

it is the process of recording, classifying, summarizing and interpreting the financial transactions of the government.

In the Philippine setting, Under Section 109, _____ defines Government Accounting as encompasses the processes of analyzing, recording, classifying, summarizing and communicating all transactions involving the receipt and disposition of government funds and property, and interpreting the results thereof

(4) OBJECTIVES OF GOVERNMENT ACCOUNTING

(3) - it consolidates all activities pertaining to the gathering of data which are to be used as basis for fiscal management decision.

(2) Purpose government accounting

is also a processes of producing information that is useful in making economic concerned.