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  2. Accrual accounting in the public sector - Wikipedia

    en.wikipedia.org/wiki/Accrual_accounting_in_the...

    The budget deficit (or surplus) is defined differently under cash and accrual accounting, as a result of the different treatment of capital assets. [ 21 ] : 95–98 [ 7 ] : 114–116 In contrast to cash accounting, under full accrual accounting spending on new capital is not recorded as an operating expense so it does not increase the deficit ...

  3. Accrual - Wikipedia

    en.wikipedia.org/wiki/Accrual

    In accounting and finance, an accrual is an asset or liability that represents revenue or expenses that are receivable or payable but which have not yet been paid. In accrual accounting, the term accrued revenue refers to income that is recognized at the time a company delivers a service or good, even though the company has not yet been paid.

  4. Basis of accounting - Wikipedia

    en.wikipedia.org/wiki/Basis_of_accounting

    The accrual basis is a common method of accounting used globally for both financial reporting and taxation. Under accrual accounting, revenue is recognized when it is earned, and expenses are recognized when they are incurred, regardless of when cash is exchanged.

  5. Public finance - Wikipedia

    en.wikipedia.org/wiki/Public_finance

    In practice, government budgeting or public budgeting is substantially more complicated and often results in inefficient practices. Government can pay for spending by borrowing (for example, with government bonds), although borrowing is a method of distributing tax burdens through time rather than a replacement for taxes.

  6. Accounting - Wikipedia

    en.wikipedia.org/wiki/Accounting

    Accounting, also known as accountancy, is the process of recording and processing information about economic entities, such as businesses and corporations. [1] [2] Accounting measures the results of an organization's economic activities and conveys this information to a variety of stakeholders, including investors, creditors, management, and regulators. [3]

  7. Government budget balance - Wikipedia

    en.wikipedia.org/wiki/Government_budget_balance

    The government budget balance, also referred to as the general government balance, [1] public budget balance, or public fiscal balance, is the difference between government revenues and spending. For a government that uses accrual accounting (rather than cash accounting ) the budget balance is calculated using only spending on current ...

  8. Government budget - Wikipedia

    en.wikipedia.org/wiki/Government_budget

    Once the budget is approved, the use of funds from individual chapters is in the hands of government ministries and other institutions. Revenues of the state budget consist mainly of taxes, customs duties, fees, and other revenues. State budget expenditures cover the activities of the state, which are either given by law or the constitution.

  9. Financial accounting - Wikipedia

    en.wikipedia.org/wiki/Financial_accounting

    Financial accounting is a branch of accounting concerned with the summary, analysis and reporting of financial transactions related to a business. [1] This involves the preparation of financial statements available for public use.