Objectives of government accounting.
Section 110
SEC. 110. Objectives of government accounting. —Government accounting shall aim to (1) produce information concerning past operations and present conditions; (2) provide a basis for guidance for future operations; (3) provide for control of the acts of public bodies and officers in the receipt, disposition and utilization of funds and property; and (4) report on the financial position and the results of operations of government agencies for the information of all persons concerned.