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Acc Accountancy

AccountancyNEB 2076 (old course)

State any three differences between governmental and commercial accounting.

3

Answer

· Based on the official syllabus and past papers
Updated
022.54567.590Revenue Focus80Profit Motive20Accountability90Percentage Importance
Comparison of key priorities: Government (left) vs Commercial (right) accounting
Profit & Loss Account (Commercial Sector)Dr.Cr.To Cost of Goods Sold80,00,000To Operating Expenses20,00,000To Depreciation5,00,000To Balance c/d90,00,000By Sales Revenue1,50,00,000By Profit for the Period45,00,0001,95,00,0001,95,00,000
T-account showing commercial accounting profit determination (in NPR)
Government Revenue and Expenditure Account (Public Sector)Dr.Cr.To Tax Revenue (Income Tax + VAT)5,00,00,000To Non-Tax Revenue (Fees + Fines)2,00,00,000To Grants Received (Foreign Aid)1,50,00,000By Salaries & Wages (Public Sector)3,00,00,000By Infrastructure Development (Roads/Schools)2,50,00,000By Balance Carried Forward (Surplus/Deficit)2,00,00,000By Balance c/d1,00,00,0008,50,00,0008,50,00,000
Typical government accounting structure showing revenue sources vs. public expenditure (in NPR)

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