There’s A Pocket Guide for That?

While trying to research something both useful and interesting for government clients, I came across a “Pocket Guide for Government Employees” entitled:  “Protecting Federal Tax Information. While the guide was primarily addressing the need for state tax agencies which receive federal tax returns and return information, it reminded me that now many cities, towns and …

Keep Reading

Governments and Business Entities

Can governments apply the accounting and financial reporting standards that business entities use? The simple answer is no.  Governments and for-profit entities are different in a variety of ways.  One of the biggest differences is the stakeholders, and how separate accounting and financial reporting standards are in place to provide the appropriate information to meet …

Keep Reading

A Look into the Importance of Budgets for Governments and Not-for-Profits

Government and not-for-profit budgets are far more important than those for businesses because they are expressions of public policy and often carry the authority of law, preventing public officials from spending outside their budgetary authority.  The increased importance of budgets is reflected in government financial reports by a required report comparing budgeted and actual amounts. …

Keep Reading