Question

top three challenges in governmental accounting

What are the top three challenges in governmental accounting

Answer 1

The main challenges in governmental accounting are as follows:

-- The main challenge in the governmental accounting is the reports preparation wherein the essentials of can be understood by reasonable informed portion of the public. The challenge is been overcome through education in the colleges and universities

-- It is difficult to keep pace with changes in government rules for Financial Management and Accounting. In recent years there have been a several significant reforms in local government practices in accounting around the globe.

-- The standards and objectives of local and state government are likely to be influenced with the normative theories and the interactions of the institutional forces that are both complementary and conflicting