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Financial Accounting

Classwork Series and Exercises {Financial Account – SS2}: Sources of Government Revenue

Financial Accounting, SS 2, Week 4 Topic: Sources of government revenue Content Levels of Government Sources of revenue The  3 levels of government are Federal State Local The sources of revenue will be analyzed on the basis of level of government Federal government The federal government has the responsibility of preparing the financial statement of [...]

Classwork Series and Exercises {Financial Accounting – SS2}: Government Expenditure

Financial Accounting, SS 2, Week 5 Topic: Government Expenditure Content Government spending or expenditure includes all government consumption, investment, and transfer payments. It also means what a government spends in order to achieve its planned budget or the overall public spending carried out by the government. Classification of Government Expenditure Expenditure of the government can [...]

Classwork Series and Exercises {Financial Accounting – SS1}: The Journal

Financial Accounting, SS 1, Week 7 Topic: The Journal (Principal Journal) Contents Meaning of journal Advantages of journal Uses of journal proper Classes of entry Format of a journal Meaning of Journal The journal is a book of original entries or prime entries which recorded transaction in chronological order that is day by day recording [...]

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