Financial Statements in the United States
Financial Statements in the Federal Budget Process
Meaning of Financial Statements in the congressional and executive budget processes (GAO source): A document that describes an entity’s financial activity and status for a specified period. Under federal law and applicable accounting standards, the financial statements for a federal agency usually include a balance sheet, statement of net cost, statement of changes in net position, statement of budgetary resources, and statement of financing.
Resources
See Also
- Federal Appropriations
- Entries about the United States Budget Process in the Encyclopedia (including Financial Statements)
- Public Debt
Further Reading
- Legislatures and the budget process: the myth of fiscal control
(J Wehner, 2010)
- Reconcilable Differences?: Congress, the Budget Process, and the Deficit (JB Gilmour, 1990)
- Fiscal institutions and fiscal performance
(JM Poterba, J von Hagen, 2008)
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