Georgia's Uniform Chart of Accounts for Local Governments in Georgia-Why It Matters

Georgia law requires local governments to use the Uniform Chart of Accounts for Local Governments in Georgia. A uniform chart of accounts provides for consistency in recording transactions and comparability in the preparation of audited financial statements. The chart of accounts can also facilitate recording of financial information that will inform decision making. The focus of governmental accounting and financial reporting is accountability. As we all know, most of the revenue that...