Why are budgets crucial in accounting for governmental entities? If appropriations were not included in fund accounting,

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Why are budgets crucial in accounting for governmental entities? If appropriations were not included in fund accounting, what impact would this exclusion have on the financial statements?

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Advanced Accounting

ISBN: 978-0538480284

11th edition

Authors: Paul M. Fischer, William J. Tayler, Rita H. Cheng

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Question Posted: Apr 13, 2015 10:24 AM

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Why are budgets crucial in accounting for governmental entities? If appropriations were not included in fund accounting,

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Budgets are the legal authorization to raise revenue incur longterm debt an...View the full answer

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