Commentary: Accounting for thee but not for me – Champaign News-Gazette*

Sheila A. Weinberg, of Truth in Accounting: "Illinois voters will once again go to the polls without knowing the true state of the government’s finances. If the state had to use the same accounting rules as the rest of us, the financial statements for its general and other budgeted funds would report the truth."
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NB
2 years ago

A fantastic must read for all by Mrs Weinberg!!. Why isn’t the difference between full-accrual accounting and the scam of gov cash accounting being taught in a mandatory hs fiance class? Oh sorry, dummy me keep-um down on the farm Illinois has no mandatory hs finance class as so many other states do. Or why isn’t a republican candidate at least making full-accrual accounting a campaign issue? But I also assume all other states and us gov are using the same fake “modified accrual accounting” or cash accounting to hood-wink its citizenry. It’s also my understanding that other countries– like… Read more »

Pat S.
2 years ago
Reply to  NB

When I studied government accounting I was appalled at the rigged system.

Companies are required to HONESTLY report their finances; government are not.

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