Objectives of accounting manual

B. Fund Accounting. Fund accounting enables governmental entities to easily monitor and report compliance with spending purposes (fund restrictions), spending limits (budget), and other fiscal accounting objectives. Fund accounting is an accounting system organized on the basis of funds. Each fund is considered to be a separate accounting entity. The objectives of this Manual are to: provide general information and guidance on accrual accounting; assist departmental staff in understanding differences among accrual accounting, accounting for authorities and reporting by objects; This FIS Accounting Manual refers to accounting standards where they are relevant. These are part of GAAP A financial procedures manual brings all these together in one document. It helps to establish financial controls within the organization that ensure accuracy, timeliness and completeness of financial data. The manual is generally used by finance staff, but it can also act as a reference for board members, managers and other staff. Summer 2011 The governmental accounting objectives are as follows: Recording expenses ExpensesAn expense is a cost incurred in completing any transaction by an organization, leading to either revenue generation creation of the asset, change in liability, or raising capital. read more and revenue related to government activities. The development of accounting for co-operatives has attempted to build control systems to ensure that members' funds and assets are safeguarded and that co-operatives are operating for the benefits of the members. This has resulted in the development of Standardized accounting systems for the use of the members.