Problem:
Governmental accounting gives substantial recognition to budgets, with budgets being recorded in the accounts of the governmental unit. What is meant by "budgetary accounting"? What is the purpose of a governmental accounting system? Why is the budget recorded in the accounts of a governmental unit? Include in your discussion the purpose and significance of appropriations. Describe when and how a governmental unit (1) records its budget and (2) closes out the budgetary accounts.
Complete the discussion in Word Document. All references must be in APA format.