FUND AND PROPRIETARY ACCOUNTS IN GOVERNMENTAL ACCOUNTING.
Abstract This article focuses on fund and proprietary accounts in governmental accounting. The ledger accounts of municipal and other governments may be classified under two heads, "proprietary," including accounts with assets and liabilities, and with revenues and expenses; "fund," including those accounts necessary to reflect the operations of the budget. Fund, or budget, accounts are peculiar to governmental organizations. They are necessary because the finances of such organizations are carried on in accordance with the budget system, which requires accounts which control and analyze the transactions incident thereto in accordance with the limitations set in the budget. All revenue estimates and appropriations are for a fiscal period and at the end of that period any unencumbered balances in the appropriation accounts fall back into "unappropriated surplus." The net difference, therefore, between the original amounts debited to "unappropriated surplus" for appropriations and the amount thrown back into "unappropriated surplus" represents the total expenditures for the fiscal period plus encumbrances outstanding at the end of the period.
- DOI
- 10.2308/tar-8596740
- Volume
- 1 (2)
- Pages
- 77-84
- Language
- en
- Export
- BibTeX
- Sources
- openalex crossref