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or reports for the year. The financial statements, in contrast to budget, present the revenue collected and amounts spent. The government financial statements usually include a statement of activities (similar to an income statement in the private sector), a balance sheet and often some type of
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International Public Sector
Accounting Standards (IPSAS) research paper Study 14: Transition to the Accrual Basis of Accounting: Guidance for Governments and Government Entities, 2007
122:(GASB) make the accounting and financial rules. A major change came in June 1999, when GASB introduced accrual and consolidated rules with fund accounting taking a secondary role.
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on the Budget Day. 13-15 other documents are also released in the
Parliament along with the actual statement. Briefly divided into three parts, namely
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publishes annual accounts for the whole of government. It aims to provide more complete data for fiscal planning by producing consolidated
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are often included to show the sources of the revenue and the destination of the expenses.
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Transition to
Accrual Accounting -- IMF Technical Guidance Note, Abdul Khan, IMF, 2007
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Plummer, Elizabeth; Hutchison, Paul D.; Patton, Terry K. (2007).
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The Annual
Financial Statement of India is tabled in the
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