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Kentucky Department of EducationFinancial Management Manually Reviewed 7/1/2017FINANCIAL MANAGEMENT MANUAL TABLE OF CONTENTS IINTRODUCTIONIIREVENUE SOURCES Local Sources State Sources Federal SourcesIIIBUDGETING

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What is budgeting and financial accounting?

Budgeting is the process of creating a plan to spend money, while financial accounting deals with the recording and reporting of financial transactions.

Who is required to file budgeting and financial accounting?

Businesses, organizations, and individuals may be required to file budgeting and financial accounting.

How to fill out budgeting and financial accounting?

Budgeting and financial accounting should be filled out following accounting principles and using accurate financial data.

What is the purpose of budgeting and financial accounting?

The purpose of budgeting and financial accounting is to track financial performance, make informed financial decisions, and ensure compliance with regulations.

What information must be reported on budgeting and financial accounting?

Information such as income, expenses, assets, liabilities, and equity must be reported on budgeting and financial accounting.

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