Business Finance Homework Help

I’m working on a accounting question and need guidance to help me learn.

Governmental accounting gives substantial recognition to budgets, with budgets being recorded in the accounts of the governmental unit.

• What is meant by budgetary accounting?
• What is the purpose of a governmental accounting system?
• Why is the budget recorded in the accounts of a governmental unit?
• Explain the purpose and significance of appropriations.
• Describe when and how a governmental unit
  • records its budget, and
  • closes out the budgetary accounts.