The Government Accounting Courses Should Be Done Only By the Deserving
The term government accounting is in fact an umbrella term that is used to inculcate all the accounting systems that are used by the numerous public sector entities. In the USA there are two bodies that set the accounting standards that are followed by the various public sector entities. One is the federal accounting standards advisory board (FASAB) that sets the rules for the federal entities, whereas the other is the Governmental Accounting Standards Board (GASB) that supervises the accounting standards for the various states as well as the local level government. A point to be noted is that there is a whale of a difference between the public accounting as well as the private accounting. The reason behind this difference is the accounting environment that is prevalent. The major difference is the agenda of the public as well as the private sectors. While the main goal of the private sector accounting is to earn profit, the aim of government accounting is the fiscal accountability.
The fiscal accountability of the government is in regards to the show of compliance while using the resources in a budgetary context. In case of the private sector the aim of accounting is to contribute towards the financial plan of the company and at the same time it is not at all mandatory on the part of the organization to adhere to it. The government accounting systems use the historic system of fund accounting.
Considering the difference between the two types of accounting systems, it is mandatory that the accountants who wish to be a part of the government accounting system should get themselves enrolled in government accounting courses.
The government accounting courses can help the candidate in understanding the major concepts and ideas that are utilized in the government accounting. The government accounting courses can also help the student into understanding the finer nuances of the government accounting systems.
There are certain facts that have to be kept in mind by the candidate who enrolls for the government accounting courses. The primary one is that the candidate must have the aptitude to work within the government accounting systems. A person who has a sense of responsibility as well as a desire to serve is the best candidate to serve in the government accounting systems.