Discuss the purpose of accounting in government.

Essay on Governmental Accounting and Reporting: Discuss the purpose of accounting in government. State the basic accounting equation used in government and define each item in the equation. What are the components of government-wide financial statements and fund financial statements, and how do they relate to the accounting equation? Identify the three categories of funds in governmental accounting, the types of fund in each category, and discuss the uses of each fund. (5 Double Spaced Pages). Resources Lee, Johnson and Joyce. Public Budgeting Systems, 9th Edition., Jones and Bartlett. Powerpoint slides (attached)

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