Objective of Governmental Financial Reporting. CPA Exam
Free
12 minutes
English

Provided by

Youtube is a video-sharing platform that offers a wide variety of educational content, including lectures, tutorials, and courses on a wide range of subjects....

Description

The subject matter revolves around the objectives of financial reporting for governmental entities, which differs from that of business entities. In government accounting, the primary objective is to provide relevant, reliable, and timely information to users, including citizens or voters, legislative bodies, oversight bodies, and other interested parties such as creditors. This information is essential for making informed decisions about accountability. The concept of accountability is crucial in public finance, ensuring that governments are transparent and responsible in their financial dealings. In contrast, business entities focus on providing information to shareholders and creditors. The content also touches upon the idea of giving citizens the right to know what's happening within government operations, enabling them to evaluate efficiency and effectiveness. Overall, it highlights the importance of accurate and timely financial reporting for governmental entities. learn more

Professions

Public Finance Specialist Infrastructure manager Government Accountant Financial Planner Financial Analyst CPA Candidate Budget Manager Auditor Accountant

More courses by YouTube

Cookie preferences

This website uses the following types of cookies: strictly necessary, functional, and visitor statistics cookies.