What is Government accounting?
What is Difference betwixt authorities accounting too commercial accounting?
What is Difference betwixt authorities accounting too commercial accounting?
Concept too important of authorities accounting
Government accounting is the systematic recording analysis too communication of financial transactions made yesteryear a authorities body. It helps to analyze the financial information of authorities organizations.
According to oshisami too dean "government accounting is the procedure o
Features of authorities accounting
Government accounting has the next features:
• It never deals amongst profits too loss of authorities organizations.
• It next authorities rules too regulations.
• It next rules of double entry scheme of mass keeping.
• It records revenue too expenditures inward accordance amongst the budget head.
• It too deals amongst banking transaction yesteryear opening separate banking company occupation organisation human relationship to operate dissimilar funds of the government.
• It audits revenues too expenditures of authorities to command misuse of coin too power.
Objectives of authorities accounting
The objectives of authorities accounting are equally follows:
• It records financial transaction of authorities office.
• It emphasizes on expenditures inside the limit of the budget.
• It emphasizes on the legal expenditures, according to the appropriate act.
• It suppliers required too effective financial information too information for the performance of populace fund.
• It maintains proper records to foreclose misuses of authorities properties.
• It facilitates the procedure of audit.
• It helps to proper an annual report.
In spite similarities, in that place are too around dissimilar betwixt thence inward objective, natures too activities. The dissimilar are equally follows:
Bases of dissimilar
Objectives
Budget
Level of accounting
Basis
Rules too regulation
Acknowledgement
Auditing
Government accounting
To know the seat of populace funds.
Parliament approves the budget which has to survive followed strictly yesteryear the executive.
Books of occupation organisation human relationship are classified into fundamental score accounting too operating score accounting.
It is cash basis.
It strictly follows the authorities rules too regulation.
It gives information to the authorities too populace relating to receipts, transfer too disposition of authorities funds.
A status trunk audit books of accounts kept nether authorities accounting.
Commercial accounting
To calculate the profits or loss a for certain period.
It is non based on the budget.
Books of occupation organisation human relationship are non classified into fundamental score accounting too operating score accounting.
I am both cash position down too accrual basis.
Ti follows the rules too regulation of full general accepted accounting (gaap)
It gives information of financial transaction to the concerned parties related to the occupation organisation organization.
Any auditor's license holder tin audit the books of account.
Historical evolution of authorities accounting inward Nepal
Many changes conduct hold taken house inward the authorities accounting systems inward Nepal. Double entry scheme of mass keeping introduced inward 2018 B.S. is the latest development.
Before the introduction of this system, the tape of revenue of expenditures was found inward the 'Lichhavi period'. I 18th century, the authorities officeholder started using accounting systems too this scheme was improved yesteryear prithavi naraya shah inward 1825 B.S., the authorities introduced of mass "Laldhadda" to recorded revenue too administrative expenditure of the government. 'Mothadhada' was too introduced for recording details of terra firma too its revenue.
In 1952 B.S., kitabkhana role was established to recorded the salary of authorities employees inward 1936 B.S. kharidar gunawanta propounded syaha srestha parnali to plough over existent pictures of authorities revenue too expenditure.
After the institution of commonwealth inward 2007 B.S., the authorities began maintaining the systematic mass of accounts. Consequently inward 2008 B.S. 'procedural dominion of authorities fund expenditures. 2016 B.S. bhaktani srestha pranali was introduced. Within a yr administration. In the yr 2017 B.S., bhuktani srestha pranali was introduced. Within a yr the developed scheme of accounting double entry scheme of mass keeping was introduced at the recommendation of an accounting committee. Since 2019 B.S. financial year, double entry scheme of mass keeping is begging used inward all HMG officers because it is systematic too scientific.
Types of accounting scheme used inward Nepal
There were diverse types of accounting systems used inward Nepal earlier the introduction of novel accounting system. Some of import systems of accounting used inward Nepal are equally follows:
• Wasil banki srestha pranali
• Shyaha srestha pranali
• Form srestha pranali
• Bhuktani srestha pranali
Wasil banki srestha pranali
Wasil banki srestha pranali is a elementary mass or contention of recording of authorities revenue too expenditure. This pranali was suitable for those offices, which were established for brusk catamenia too which had a pocket-size publish of financial transaction. It was based on a unmarried entry scheme of mass keeping. Where i side of the page eas used to recorded revenues too the other side of the page was used to tape expenditure. Therefore, it was works life to uncovering the full amount of revenues too expenditure. Under this system, mass of accounts were unopen at the destination of the financial yr or at the completion of the work. This pranali was non able to analyze the transaction nether publish of dissimilar heads.
Shyaha srestha pranali
In the procedure of the historical evolution of authorities accounting inward Nepal, shyaha srestha pranali is i of the most of import systems, which was propounded yesteryear kharidar gunawanta inward 1936 B.S. this pranali was to a greater extent than systematic than wasil banki srestha pranali. The full too residual could survive shown on the same foliage when required. Different types of mass were used nether this paranali are:
Shyaha
Shyaha was an master recorded of financial transaction similar magazine voucher of double entry scheme of mass keeping. It was useful to tape authorities incomes too expenditure. Shyaha was prepared inward English linguistic communication alphabet "T" shape. Influenza A virus subtype H5N1 foliage was folded into 16, 24, 32 or 36, crease equally per the requirements of the role to recorded the authorities revenue too expenditures. All the expenses were recorded inward the correct mitt side too all the revenue were inward the left mitt side of a shyaha. At the destination of the day, both sides of shyaha were totaled too underlined which is called "Terij". Again, the grand full is found yesteryear adding to the full upward to the previous hateful solar daytime which the electrical flow day's amount too it is called "Berij". Influenza A virus subtype H5N1 shyaha was either unopen at the destination of each calendar month or at the destination of the financial year. Shyaha could survive classified into next iii types.
a. Nagadi shyaha: nagadi shyaha was prepared for cash transction.
b. Jinsi shyaha: jinsi shyaha: dharauti was prepared for properties.
c. Dharauti shyaha: dharauti shayaha wa prepared to recorded the amount deposited yesteryear the populace for specific purposed.
Awarje
Awarje was around other most of import mass maintained nether syhaha srehtha paranali, which was similar the ledger. It was too kept nether a double scheme entry scheme of mass keeping. In this book, all the transaction was divided into dissimilar heads of revenue too expenditures. It had the next categories:
a. Income awarje: income awarje was prepared to tape too assort the authorities revenue. It was farther classified into regular income awarje too irregular income awarge.
b. Vinjalik (expenditure) awarje: vinjalik awarje was prepared to tape too assort the authorities expenditure.
Dhapot
Dhapot tin survive compared amongst modern residual sheet. It was prepared to exhibit the summary of the authorities fund seat of a for certain period. There are the next iii types of dhapat used inward the shyaha srestha pranali:
a. Job destination dhapot: it was prepared afterward the completion of preject move or at the destination of job.
b. Month destination dhapot: it was prepared at the destination of each month.
c. Year destination bhapot: it was prepared to tape at the destination of financial year.
Form shreatha pranali
Form srestha pranali was introduced inward 1968 B.S. it was peculiarly prepared to tape terra firma revenues of the urban inwardness too teral areas. Due to the increase inward the publish of financial transactions. Altogether 51 dissimilar forms were used to tape the dissimilar transaction.
The next were around of them.
a. Day mass of cashier
b. Ten days report
c. Fifteen days reports
d. Monthly cash statement
e. Remainder journal
f. Monthly pay sheet
g. Outstanding revenue tape form
h. Statement of the residual collection from debtors
Bhaktani srestha pranali
Bhuktan srestha pranali was evolution inward 2017 B.S. it was mainly concerned amongst the systematic recording of authorities expenditure according to the budget heads. Bhuktani srestha pranali was a to a greater extent than scientific scheme too it was based on the double entry scheme of mass keeping. Under this system, the authorities officers were classified into fundamental too performance score to simplify inward tape keeping of revenue too expenditure of populace fund.
In 1952 B.S., kitabkhana role was established to recorded the salary of authorities employees inward 1936 B.S. kharidar gunawanta propounded syaha srestha parnali to plough over existent pictures of authorities revenue too expenditure.
After the institution of commonwealth inward 2007 B.S., the authorities began maintaining the systematic mass of accounts. Consequently inward 2008 B.S. 'procedural dominion of authorities fund expenditures. 2016 B.S. bhaktani srestha pranali was introduced. Within a yr administration. In the yr 2017 B.S., bhuktani srestha pranali was introduced. Within a yr the developed scheme of accounting double entry scheme of mass keeping was introduced at the recommendation of an accounting committee. Since 2019 B.S. financial year, double entry scheme of mass keeping is begging used inward all HMG officers because it is systematic too scientific.
Types of accounting scheme used inward Nepal
There were diverse types of accounting systems used inward Nepal earlier the introduction of novel accounting system. Some of import systems of accounting used inward Nepal are equally follows:
• Wasil banki srestha pranali
• Shyaha srestha pranali
• Form srestha pranali
• Bhuktani srestha pranali
Wasil banki srestha pranali
Wasil banki srestha pranali is a elementary mass or contention of recording of authorities revenue too expenditure. This pranali was suitable for those offices, which were established for brusk catamenia too which had a pocket-size publish of financial transaction. It was based on a unmarried entry scheme of mass keeping. Where i side of the page eas used to recorded revenues too the other side of the page was used to tape expenditure. Therefore, it was works life to uncovering the full amount of revenues too expenditure. Under this system, mass of accounts were unopen at the destination of the financial yr or at the completion of the work. This pranali was non able to analyze the transaction nether publish of dissimilar heads.
Shyaha srestha pranali
In the procedure of the historical evolution of authorities accounting inward Nepal, shyaha srestha pranali is i of the most of import systems, which was propounded yesteryear kharidar gunawanta inward 1936 B.S. this pranali was to a greater extent than systematic than wasil banki srestha pranali. The full too residual could survive shown on the same foliage when required. Different types of mass were used nether this paranali are:
Shyaha
Shyaha was an master recorded of financial transaction similar magazine voucher of double entry scheme of mass keeping. It was useful to tape authorities incomes too expenditure. Shyaha was prepared inward English linguistic communication alphabet "T" shape. Influenza A virus subtype H5N1 foliage was folded into 16, 24, 32 or 36, crease equally per the requirements of the role to recorded the authorities revenue too expenditures. All the expenses were recorded inward the correct mitt side too all the revenue were inward the left mitt side of a shyaha. At the destination of the day, both sides of shyaha were totaled too underlined which is called "Terij". Again, the grand full is found yesteryear adding to the full upward to the previous hateful solar daytime which the electrical flow day's amount too it is called "Berij". Influenza A virus subtype H5N1 shyaha was either unopen at the destination of each calendar month or at the destination of the financial year. Shyaha could survive classified into next iii types.
a. Nagadi shyaha: nagadi shyaha was prepared for cash transction.
b. Jinsi shyaha: jinsi shyaha: dharauti was prepared for properties.
c. Dharauti shyaha: dharauti shayaha wa prepared to recorded the amount deposited yesteryear the populace for specific purposed.
Awarje
Awarje was around other most of import mass maintained nether syhaha srehtha paranali, which was similar the ledger. It was too kept nether a double scheme entry scheme of mass keeping. In this book, all the transaction was divided into dissimilar heads of revenue too expenditures. It had the next categories:
a. Income awarje: income awarje was prepared to tape too assort the authorities revenue. It was farther classified into regular income awarje too irregular income awarge.
b. Vinjalik (expenditure) awarje: vinjalik awarje was prepared to tape too assort the authorities expenditure.
Dhapot
Dhapot tin survive compared amongst modern residual sheet. It was prepared to exhibit the summary of the authorities fund seat of a for certain period. There are the next iii types of dhapat used inward the shyaha srestha pranali:
a. Job destination dhapot: it was prepared afterward the completion of preject move or at the destination of job.
b. Month destination dhapot: it was prepared at the destination of each month.
c. Year destination bhapot: it was prepared to tape at the destination of financial year.
Form shreatha pranali
Form srestha pranali was introduced inward 1968 B.S. it was peculiarly prepared to tape terra firma revenues of the urban inwardness too teral areas. Due to the increase inward the publish of financial transactions. Altogether 51 dissimilar forms were used to tape the dissimilar transaction.
The next were around of them.
a. Day mass of cashier
b. Ten days report
c. Fifteen days reports
d. Monthly cash statement
e. Remainder journal
f. Monthly pay sheet
g. Outstanding revenue tape form
h. Statement of the residual collection from debtors
Bhaktani srestha pranali
Bhuktan srestha pranali was evolution inward 2017 B.S. it was mainly concerned amongst the systematic recording of authorities expenditure according to the budget heads. Bhuktani srestha pranali was a to a greater extent than scientific scheme too it was based on the double entry scheme of mass keeping. Under this system, the authorities officers were classified into fundamental too performance score to simplify inward tape keeping of revenue too expenditure of populace fund.
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