Government financial statements

Government financial statements are annual financial statements or reports for the year. The financial statements, in contrast to budget, present the revenue collected and amounts spent. The government financial statements usually include a statement of activities, a balance sheet and often some type of reconciliation. Cash flow statements are often included to show the sources of the revenue and the destination of the expenses.

1.1. Specific countries and jurisdictions India
The Annual Financial Statement of India is tabled in the Indian Parliament by the Finance Minister on the Budget Day. 13-15 other documents are also released in the Parliament along with the actual Statement. Briefly divided into three parts, namely- Consolidated Fund, Contingency Fund and Public Account, the Statement comprises the receipts and expenditure incurred by the Government on each part.

1.2. Specific countries and jurisdictions United Kingdom
The UK Government publishes annual accounts for the whole of government. It aims are to provide more complete data for fiscal planning by producing consolidated financial statements. The accounts are produced in accordance with the International Financial Reporting Standards and independently audited by the Comptroller and Auditor General.

1.3. Specific countries and jurisdictions United States
In the United States, financial reporting in the federal government national must be in accordance with the Chief Financial Officer Act. The elements of financial reports are regulated by Office of Federal Financial Management. At the state and local level of the United States, the Government Accounting Standards Board GASB make the accounting and financial rules. A major change came in June 1999 when GASB introduced accrual and consolidated rules with fund accounting taking a secondary role.

Financial statements or financial reports are formal records of the financial activities and position of a business, person, or other entity. Relevant
Financial statement analysis or financial analysis is the process of reviewing and analyzing a company s financial statements to make better economic
Consolidated and separate financial statements and International Financial Reporting Standard 10 Consolidated financial statements While preparing a consolidated
partnership, statement of changes in Shareholders equity for a Company or statement of changes in Taxpayers equity for Government financial statements is one
whether financial statements are fairly stated in accordance with accounting standards, the auditor gathers evidence to determine whether the statements contain
Financial Report CAFR is a set of U.S. government financial statements comprising the financial report of a state, municipal or other governmental entity
involves the preparation of financial statements available for public use. Stockholders, suppliers, banks, employees, government agencies, business owners
standardised way of describing the company s financial performance so that company financial statements are understandable and comparable across international
This article is a list of Financial Accounting Standards Board FASB pronouncements, which consist of Statements of Financial Accounting Standards SFAS
that are required to publish financial statements do not produce an income statement Instead, they produce a similar statement that reflects funding sources
Some period - specific financial statement examples include pro forma statements historical period and prospective statements current and future period