One of the important functions of governmental accounting systems is to aid in the budgetary process both for departmental budget managers and the central budget office. Governmental accounting systems do this by recording:

Question

Quizplus · Accepted Answer

Governmental accounting systems record (a) estimated and actual revenues and (b) appropriations and spending against the appropriations. Encumbrances are used to show that a portion of appropriations is effectively used up.

One of the Important Functions of Governmental Accounting Systems Is