Government Accounting

Governmental accounting is that accounting system which is used for making the accounts of central government and state government. My father did 37 years govt. service in state govt. accounting department. From his experience, I learnt some fundamentals of government accounting. There is big difference between government accounting and private accounting. In government accounting, all accounting is done on the basis of project. This accounting provides the information whether public money is using for welfare of public or not by govt.

Aim of Government Accounting

Government functions and government accounting are not done for earning  profit but use government's limited resources for public welfare. Accountability and responsibility of government accountant is more than any private company's accountant.

Fundamentals of Government Accounting

• Make budget for estimating the cost of projects.
• Calculate and Record of Salaries, TDS of Govt. department.
• Record the actual expenses in Government department.
• Calculation of raw materials of project and its cost and record it.
• Monitoring of projects and Auditing and inspection of each government work.
• To Create all financial reports relating to financial work in government department.
• Reporting Cash Flows