Government accounting

Government Accounting . The accounting Government is the method that systematically investigates operations running the agencies of public administration , also provides financial, budgetary, programmatic and financial information accounting, complete and timely manner to support decisions of officials of public bodies , in its different areas and phases of the production process.

Summary

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  • 1 Laws that make up Government Accounting
  • 2 Institutions that regulate Government Accounting
  • 3 Importance of Government Accounting
  • 4 Goals of Government Accounting
  • 5 Government control system
  • 6 Government Accounting Standards
  • 7 Source
  • 8 See also

Laws that make up Government Accounting

The primary rules for the application of government accounting are:

  1. Budgetlaw .
  2. Organic Law of the National Public Treasury.
  3. Law on the private pension fund administration system.

Institutions that regulate Government Accounting

The main institutions that regulate government accounting are:

  1. Comptroller General of the Republic.
  2. National Public AccountingOffice .
  3. National Budget Office.
  4. Federation of colleges of public accountants.
  5. Integrated Management and Control System of public finances.

Importance of Government Accounting

Government accounting is of great importance because all companies have a need to keep track of their business and financial negotiations. This way you will obtain greater productivity and use of your assets. On the other hand, the services provided by accounting are essential to obtain legal information.

Goals of Government Accounting

  1. Display accountability to meet the general public , the financial and budgetary situation of the Statethrough the General Account of the Republic.
  2. Analyze the efficiency of management and the effectiveness of the entity’s programs.
  3. Ensure compliance with the Law in Budget execution and in general of the different transactions carried out by the government entity.
  4. Guide administrative management to ensure the efficient use of State resources.
  5. Measure the progress and fulfillment of the Government’sgoals , as well as the distribution and social impact of the origin and application of public resources.

Government control system

This System is the set of principles, norms and procedures, with the purpose of improving the efficiency and effectiveness in the collection and use of State resources, generating reliable, useful or timely information in decision-making, promoting full responsibility for acts of the public servant and accountability of management by the authorities to strengthen administrative capacity.

Government Accounting Standards

Government accounting standards can be defined as the essential foundations to support, the correct recording of operations, and the preparation and presentation of financial statements based on their reasoning, proven efficiency, support of specialized legislation and general application of Government Accounting. .

 

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