Abstract
The Initial accounts of Government transactions in India prepared by the authorities through whom transactions occur, such as treasuries, the various departmental offices, pay and accounts organizations, etc. From these initial accounts, The Indian audit and accounts department as well as the central Accounting organizations of the union government compile, under different heads prescribed for government accounts, and bring out , monthly and annually , the combined result of all the transactions which occur during that period . from the accounts so complied by the Indian audit and accounts department and other agencies, the combined finance and revenue accounts of the union and state government are prepared by the comptroller and auditor-General. These accounts incorporate the results of the total government arising both in and outside India Karnataka Panchayat Raj Act, 1993 came into force on 10.05.1993, accordingly there are 3 tier systems in Panchayat Raj Institution, and they are Zilla Panchayat, Taluk Panchayat, and Gram Panchayat. Gram panchayat have been the backbone of the Indian villages since the beginning of recorded history. And is the lowest tier of Government. They have responsibilities of civic administration with independent power of taxation. Government of India has constantly been increasing the outlays on the various Programmes for Rural development. It means that the huge money is spent or disbursed by the members of gram Panchayat’s; utilization of those funds should be properly accounted. It needs a good accounting and auditing system to control and evaluate the activities of gram panchayat’s.
Key Words: Accounting, Auditing, Financial Reporting, Panchayat’s.
References
1. The Karnataka Grama Swaraj and Panchayathraj Act 1993.
2. Karnataka Public Works Departmental Code 2014.
3. Karnataka Treasury Code.
4. Grant –in –Aid Code in Karnataka State Triple Benefit Scheme.
5. The Karnataka Financial Code.
6. The Mysore Public Accounts Code.
7. Account Code.
8. Indian Government Accounts and Audit.
9. Govt Accounting Rule, 1990.
10. Journal of modern Accounting and auditing.
11. Daunt j. (2002): Modern accounting methods. http://www articles corporate findlaw.com.
12. Aderibigbe, P. (2000): The role of the forensic Chartered Accountant. In Nigeria accountant July, 2000.
13. M.P. Vijay Kumar, First Lessons in “Financial Reporting”, snow white Publisher, New Delhi, 3rdEdition, 2009 p. 887.
14. Anitha Mishra and M Malika Rath (2010), Role and Significance of Human Resource Accounting in the Era of Economic Recession; Global Institute of Management, Bhubeneswar.
15. Dr. Mukesh Chauhan, Mrs. Shivani Gupta (2009), Human Resource Accounting – Concept and Practices in India, the Management Accountant, Vol. 44, No.1, January, P. 9-10.
16. A study of panchayati finance of Karnataka report prepared by institute for development and Report Prepared by Institute for Development and Empowerment Mysore.
17. National panchayati accounting manual Government of India ministry of Finance, developed by infrastructure professionals Enterprise (p) Ltd. New Delhi India.