Greetings!
I need assistance on writing the following essay:
Part 1
300 Words:
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.
Part 2
1250 Words:
Before you prepare the financial statements for a Public Health Center, you need to review the financial reporting requirements for governmental and nonprofit organizations.
Determine the following:
- The governing authority for regulating the financial reporting of both governmental and nonprofit organizations.
- The financial statements required.
- What is required in the notes and other narratives in the annual report?
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