The Accounting Review Vol. 2 No. 3 1927
FINDING CORRECT PRINCIPLES OF PUBLIC ACCOUNTS.
Abstract
The article presents information about managing public accounts, including accounts of various governments and of public institutions, and the discussion of problems relating to those accounts. It has often been assumed that the procedure commonly followed in keeping the accounts of private business can be applied without material modification to public accounts, which has led to the commission of many errors of principle. To understand fully the requirements of Public accounts, it is necessary to understand and take cognizance of the peculiar qualities in the organization of public business. Ownership in a public corporation is tested in the body politic or in those persons appointed or elected to constitute a corporate board or commission for the management of a public institution or political subdivision, who, however, sent as representatives at the electorate and not in their own right. The general purpose of a public corporation is to render service to the public at cost. Limitation of management, especially as to finances, appears at every point of business procedure.
- DOI
- 10.2308/tar-8592407
- Volume
- 2
- Issue
- 3
- Pages
- 213-222
- Language
- en
- Sources
- openalex crossref