Discussion
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?
• Explain the purpose and significance of appropriations.
• Describe when and how a governmental unit
o records its budget, and
o closes out the budgetary accounts.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.