Wednesday, October 30, 2019

Budget vs Comprehensive Annual Financial Report (CAFR) Essay

Budget vs Comprehensive Annual Financial Report (CAFR) - Essay Example The budget portion within the CAFR comprises of what was predicted and even what actually happened in terms of monetary expenditure and income. The CAFR even comprises of investments that the government has made and these investments are details in different categories and it even comprises of the ending balance of investments that occurred in prior years. On the other hand a budget can be regarded as a map created by the government and this map comprises of spending that might be made by different governmental organizations over a particular year (Hou, 2013). It comprises of both revenues as well as the expenditure that different governmental units such as schools, defense services and other units spend and collect over a particular year. These budgets are created while keeping in mind the spending and revenues that were disbursed and collected by the governmental agencies in prior

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