The Accounting Rules That Bankrupt Cities – The Atlantic

The Accounting Rules That Bankrupt Cities – The Atlantic


The Atlantic

The Accounting Rules That Bankrupt Cities
The Atlantic
Cash-basis accounting is a recipe for fiscal disaster. State and local governments make long-term commitments for programs like employment compensation plans and public works projects. But they write their budgets on a year-to-year basis, as if

The Accounting Rules That Bankrupt Cities – The Atlantic