Role of government in a mixed economy, Accounting Basics

Government: In a mixed economy this is seems to be the duty of the Government to direct the operation of the economic system in that a way which it subseries the general good. Controls and regulations on the operations of private sector enterprises are the hallmark of mixed economy. Several government agencies collect information about various aspects of the activities of business organizations. Several of this information is an express output of the accounting system, for illustration, levels of outputs, profits, costs, investments and taxes etc. All such information is very significant in evolving policies for managing the economy. The task of the Government in managing the industrial economy of the country is assisted if accounting information is presented, as much as possible, in a uniform manner. This is clear here, if accounting information is distorted because of manipulations and window-dressing in the presentation of annual accounts, this will have sick effects upon the measures the government aims to take and the policies this wishes to adopt.

Posted Date: 4/2/2013 6:54:43 AM | Location : United States







Related Discussions:- Role of government in a mixed economy, Assignment Help, Ask Question on Role of government in a mixed economy, Get Answer, Expert's Help, Role of government in a mixed economy Discussions

Write discussion on Role of government in a mixed economy
Your posts are moderated
Related Questions
Q. Financial statements in European countries? In a few European countries the financial statements contain secret reserves. These secret reserves occur from a company not repo

I need help understanding my Accounting 205 class. Would some one please help me understand what I am having such a hard time comprehending.

Q. What is Income Summary account? The Income Summary account is a clearing account used merely at the end of an accounting period to summarize revenues and expenses for the pe

Scott Manufacturing Co.'s static budget at 10,000 units of production includes $40,000 for direct labor and $4,000 for electric power. Total fixed costs are $23,000. At 12,000 un

A wholesaler lists a refrigerator model at a price of $850 and offers a chain discount of 20% and 10%. What is the net price? A. $476 B. $595 C. $612 D. $644

wat is assets and its types?

A firm's __________ account is categorized as a current asset. A. equipment B. accounts payable C. bonds payable D. merchandise inventory

define accounting. Briefly explain its concepts

10% preference share 336 ooo ordinary share capital 480 000 prepare a statement of profit or loss

1. From the following information, prepare a Balance Sheet showing the workings: 1. Working Capital ` 75,000 2. Reserves and Surplus ` 1,00,000 3. Bank Overdraft ` 60,000 4. Curren