Budgetary Governmental Accounting. Encumbrances.  Governmental Accounting. CPA Exam FAR.
Channel: Farhat Lectures. The # 1 CPA & Accounting Courses
Date: 2020-08-29

In this video, I discuss the budgetary governmental accounting. Budgetary basis accounting uses either a modified accrual basis or the cash plus encumbrances method.  Governmental accounting is covered on the CPA exam

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Budgetary accounting is an important control tool for General Funds, Cash Funds, Construction Funds, Federal Funds and Revolving Funds (budgeted fund types) since the annual budget is a legal compliance standard against which the operations of such funds are evaluated.