CMA COACH INDIA

Features of Government Accounting Government Accounting is a unique application area which has certain characteristics of its own. Some of the  main features of Government Accounting are discussed as under: 1. Specific system of accounting: It is a specific accounting system which is followed by government in its  departments, offices and institutions. 2. Reporting of utilisation of public funds: The government and its institutions are public institution whose  main objective is to provide services to the society and also to maintain law and order in the country. So, the  accounting system used by such institutions has to reveal how public funds and properties have been used  for that purpose. It is to be noted that government accounting is not done for revealing any profit and loss. 3. Government Regulations: Government accounting is maintained according to government rules and regulations. The financial policies, rules and regulations as deter...