Governmental Accounting Pittsburgh, PA

 

Governmental Accounting

Governmental accountants work in the public, rather than the private arena. Their job is the maintenance and examination of governmental records.  If a private business has activities that are subject to government regulation or taxation, governmental accountants may become involved. Government accountants work for the Federal, state and local governments, and make sure that revenues are received.  They also monitor expenditures to make sure that they are in regulatory compliance.


Governmental accounting responsibilities are set up on a fund basis. For example: fiduciary funds are set up for assets held by the government as a trustee; debt service funds accumulate funds for the payment of long-term debt obligations, (both principal and interest); capital project funds hold monies to be used for acquisition or construction of capital facilities, and there are also pension trust funds. There are many more funds, each of which must have a self-balancing set of accounts.

Many accountants are employed by the Internal Revenue Service as agents; other work in financial management and budget analysis.