Often Finance and Accountings are inseparable subjects when it comes into the real world. If we want to understand comprehensively the roles of both of these subjects then what better place than the government will be for understanding the roles of both the subjects? We shall have a look at Mentyor’s Accounting Assignment Help and Mentyor’s Finance Assignment Help.
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How does the economy of a country works? | Accounting Assignment Help and Finance Assignment Help
In simple terms, the government works just like a company or vice-versa. The government sets some economic regulations through the central bank of the country, collects taxes from the citizens, and spends money on infrastructure and development of the country.
This seems very simple but every single function is a huge department in itself. Everything the government does needs to be accountable as the funds belong to the taxpayers. Now this accountability is maintained by the accounts department. The accounting department maintains a ledger and analysis of expenditure, revenues and borrowings and various other financial indicators for the government.
The Finance department is in-charge of the major areas such as imposing regulations; it is also responsible for taking the decisions on expenditure which we can see during the announcement of the United States Federal Budget and many other countries.
Hence the Finance Department is responsible for taking the decisions and accounting department checks the implementation of the decisions while maintaining transparency.
Regulations by the Government | Accounting Assignment Help and Finance Assignment Help
How can a government regulate the economy? Sure it can. Central or Federal Bank of a country devises monetary policy which also includes the rate at which it will charge the banks operating in the country for lending the money. Now the net increase or decrease in the rate is trickled down by the banks to the borrowers and depositors. This in turn sets the morale for spending by the citizens and also sets the price of commodities in the nation.
Check our Dissertation blog: What is monetary policy | Difference between Fiscal Vs Monetary Policy
At Mentyor, we have experts from finance department who strive to provide you with the best Accounting Assignment Help and Finance Assignment Help of Finance and are serving as Finance Managers, Government Officials, and Academic Professionals in various prestigious organizations all over the world.
Government Accounting Vs Private Accounting | Accounting Assignment Help and Finance Assignment Help
Every formula and every method is same in accounting be it is for a business or for the government. But the difference lies in the main motto of the accounting. While in Government accounting, the main goal is to maintain the fiscal accountability which is compliant with the use of resources in budgetary allocation. The Private accounting deals with harnessing the best possible profit.
The other difference can be seen in the accounting standards used by a business and that of used by the government. Mentyor has a range of experts who are adept in every topic of accounting and strive to provide you with the best Accounting Assignment Help or Accounting Homework Help.
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