What is the purpose of fund accounting? How does it assist governments and how might it be a hindrance?
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Fund Accounting is said to be a system for accounting used especially in the government & non-profit organizations for the purpose of doing the accounting rather than taking profitability into account. In this system, a specific fund or the amount is set aside for the various rules and regulations and laws. We can also name Fund Accounting as Portfolio Accounting, Investment Accounting and Security Accounting....