Accounting in budgetary organizations and not only in them

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

Basic Accounting

Accounting is a process of control and management of the resources of a business entity, reflecting the current economic condition of the organization. The object of accounting is all the property of the enterprise, which is usually divided into:

• assets (funds of a business entity);
• liabilities (sources of their formation);
• current processes.

The control process is fully reflected in the standardized documentation, which is called the accounting register. It records the property and liabilities of the organization. In order to provide a consistent description of the economic condition of the enterprise, the register reflects transactions for the movement of funds. They are elements interconnected by a system of processes that ensure the economic activity of the enterprise, and are divided into:

• supply operations;
• production or other activity establishing the existence of an enterprise;
• operations to implement its activities.

Budget accounting and reporting

All the listed business processes consist offrom a variety of other elements registered in accounting registers. They are a prerequisite for doing business in the modern economic system of market relations. Strict reporting for accounting is the main factor in the existence of this industry as a whole. After all, every day people are trying more and more to save money, and well-analyzed registries are the shortest way to achieve this goal.

Entities with partial or full government funding

Accounting in budgetary organizations is still the same accounting, but only with partial or full state financing of the accounting object. It is based on estimates of income and expenses of the institution. Accounting in budgetary organizations is carried out in accordance with the prescribed reporting procedure for these business entities. And they are determined, according to the charter, by the relevant constituent documents and financial bodies. Accounting and control of operations for the distribution of funds in this case is carried out by the department of the federal treasury. It monitors how accounting is maintained in budgetary organizations, whether the entire process of relevant regulations and legislation in general is supported. Thus, this type of control over distributed public funds is an ordinary element of the reporting system and a tool for allocating resources of a business entity. In addition, accounting in budgetary organizations provides for the following tasks:

• compliance with relevant regulations, decrees and laws in general;
• using modern reporting methods;
• implementation of control over the preliminary execution of documents;



• ensuring information transparency of the economic condition of the organization;
• formation of financial stability reserves in order to prevent a negative result during the economic activity of the enterprise;
• Extremely accurate approval of the organization's budget and its intended use.

Thus, accounting is not only a way to count money, but also a tool for total control over all values in an enterprise, organization, country and the world as a whole.