Federal Accounting

Federal accounting refers to the financial reporting and management practices used by government entities at the national level. It ensures that taxpayers' dollars are accurately tracked, recorded, and reported. This system focuses on accountability, transparency, and compliance with laws and regulations. Federal accounting involves budgeting, financial statements, and audits to provide a clear picture of the government's financial health and fiscal responsibility. It helps in making informed decisions about resource allocation, spending priorities, and overall economic policy, fostering trust between the government and its citizens.