Importance of Financial Accounting of Government Affairs in World and More Specifically in Africa

Importance of Financial Accounting of Government Affairs in World and More Specifically in Africa Research Paper example
Masters
Research Paper
Finance & Accounting
Pages 20 (5020 words)
Download 0
Table of Contents 1.0 INTRODUCTION 2 1.1 Introduction to Government Accounting: 2 1.2 Purpose of Government Accounting: 2 1.3 Government Accounting in African Countries: 4 1.4 Aim and Objective of the Research: 5 1.5 Research Questions: 5 2.0 LITERATURE REVIEW 7 2.1 Overview of the African Countries’ Conditions: 7 1.2 Importance of Financial Accounting of Government Affairs in World and More Specifically in Africa: 8 1.3 Position of Accounting and Financial Disclosures of African Countries: 9 1.4 Government Accounting Problems in Africa: 12 1.5 Government Accounting Practices in Africa: 13 1.6 References from other Countries: 18 1.7 Reforms Needed: 20 3.0 RESEARCH METHODOLOGY: 22 Works Cite…

Introduction

Government accounting is the process that encompasses recording, analysis, classification, summary, communication, and interpretation of financial information about government conduct in financial domain in aggregate. It is detailed reflection of transactions and other economic events involving the receipt, payments, spending, transfer, usability and disposition of assets and liabilities (International Federation of Accountants, 2000). 1.2 Purpose of Government Accounting: Government disclosure in accounting provides citizen evidence and reasoning for the raising of funds from public and donors and domains where the said amount is made useful with its cost and benefits information also exportable from such statements. ...
Download paper
Not exactly what you need?

Related papers

Financial accounting
Liquidity Analysis 12 …
Exploring the opportunities and challenges of developing Islamic Financial Services in Seychelles
In the religion of Islam, it is strongly believed that Allah alone is Sovereign and it is He who has the right to ordain a guidance path for the whole humanity. In the Holy Quran, the word “Shariah” is mentioned once: “ Then, We have set you[Muhammad] on a path (Shari’a) of [Our] commandment, so follow it, and do not follow the whims of those who do not know” (Holy Quran 45:18). This…
Financial Accounting
Turnover 21,134 Cost of sales 15,345 Gross profit 5,735 Distribution costs 2,520 Administrative expenses 1,417 Operating profit 1,798 Investment income 80 Finance costs 11 Profit before taxation 1,867 Taxation 581 Profit after taxation 1,286     Profit attributable to:   Parent 1,206 Non-controlling interest 80   1,286     A consolidation schedule is provided Appendix 1. It shows how the…
Financial accounting
In addition, through integrity, external auditors are required to avoid conflicts of interest when making their reports. In this way, their judgment will be imperative to the shareholders, directors, banks and other users of the audited reports. Question 2 One of the major factors to consider before investing in the biotechnology company is the profitability of the company. Through the audited…
FINANCIAL ACCOUNTING
“The terms depreciation and amortization have various meanings in finance and investing. For example, depreciation can refer to the devaluation of a currency, and amortization can be used to describe the payment structure in a common type of loan” (What is the difference between Depreciation and Amortization? 2003). Depreciation is charged to tangible assets, whereas amortization is charged to…
Issues in accounting for R&D investment - a perspective from the pharmaceutical industry
The companies operating in the pharmaceutical industry spend millions of dollars each year in the research and development expenditure so that they are able to devise new methods and medicine that are able to cure and provide sustenance to the human body from deadly diseases. From the financial perspective, the research and development expenditure forms an integral part of the financial statements…
Financial accounting
This is regardless on the time when the cash is actually received. In a sale proceed, the revenue is recognized when the ownership of a good or a commodity has been transferred to the buyer together with the associated risks. The amount of the proceeds has to be reliably measurable in terms of revenue. Similarly, the costs associated with the transaction should also be measurable in a reliable…