The Accounting Review Vol. 28 No. 4 1953
A REVIEW OF IMPROVEMENTS IN FEDERAL GOVERNMENT ACCOUNTING.
Abstract
The article discusses the Statement of Accounting Principles and Standards for Guidance of Executive Agencies in the Federal Government, recently released by the Controller General of the U.S. This statement is not intended to specifically cover many individual situations which arise from day-to-day and which can only be resolved by the application of judgment. Rather, it is designed to provide a framework sufficiently flexible that accounting can be fitted to the needs of each group to be served, stimulate the development of the highest standards of accounting and financial reporting and encourage the continued orderly improvement of all phases of financial management. As a prelude to the main discussion of accounting principles and standards, the related factors, which are important to their successful development and application, are reviewed. The article discusses the growing analysis of the utility of the statement and establishment of accounting standards. Moreover, since management depends on accounting for current factual information on financial operations for purposes of planning and control, top management should integrate and coordinate the results of accounting, budgeting, reporting, and internal auditing.
- DOI
- 10.2308/tar-7087125
- Volume
- 28
- Issue
- 4
- Pages
- 570-575
- Language
- en
- Sources
- crossref openalex