About the paper
The paper discusses the use of funds in government accounting and will delineate how the fund balance represents the available spending resources of the entity. In addition, we will also comment on the special purpose fund in government accounting.
Government Fund and Balance of Fund
With regards to government accounting, Funds refer to the independent accounting mechanism with a self balancing set of accounts. The equity account, that represent the difference between assets and liabilities, refers to the fund balance, which the government or the respective department can use for future investment or to meet working capital needs. In fact, the overall objective of fund ...
