ACCOUNTING SYSTEM IN LOCAL GOVERNMENT

ACCOUNTING SYSTEM IN LOCAL GOVERNMENT

Abstract

This Municipal Accounting Systems project is an evaluation of accounting as a tool to teach involved municipalities how to maintain proper accounting in their municipalities.

The main objective of this project is to enable business organizations to understand common financial statement preparation standard requirements in order to fully understand local government accounting standards.

To achieve this goal, the project is divided into 5 chapters and a front page for clarity.

Chapter 1 dealt with the introduction, setting out the purpose of the study and a brief historical background of the study. We also discussed the issues and significance of this study. Definition of internal controls and terms.

Chapter 2 dealt with the literature survey. Divided into sections for clarity. It consists of excerpts from textbooks, journals and other periodicals.

Chapter 3 described the steps taken by other researchers, highlighting the basic study design, the data sources analyzed and collected, and the quantitative techniques used. Chapter 4 dealt with a summary of the results and a discussion of the results. Chapter 5 with recommendations and conclusions.

chapter One

Foreword

1.1 Research Background.

Accounting is defined as the art and science of systematically recording business transactions in order to present the actual state of affairs of an enterprise during a specific time period, commonly called an accounting period.

Financial accounting is intended to deal with the accreditation of economic events or to measure economic activity to inform policy decisions. Accounting is a field based on the concepts and translations of accounting principles and legal requirements.

1.2 Problem Description

Entitled Accounting Systems for Municipalities, this study has a practical application to Uzowani Municipality to identify issues related to the establishment and application of standard accounting systems in local governments.