What question did this study set out to answer?

The main aim is to propose a system of fund accounting for the Federal Government to prepare accurate balance sheets.

Balance Sheets for the Federal Government.

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This article outlines a new fund accounting system to improve financial reporting for the Federal Government, highlighting a need for balance sheets.

The main aim is to propose a system of fund accounting for the Federal Government to prepare accurate balance sheets.
Analysis of current financial reporting practices in the Federal Government
Identification of key reasons for the absence of balance sheets
Outline of a proposed fund accounting system including three types of funds
A proposed system that allows for the creation of fund balance sheets and operating statements
Establishment of three fund categories: General Fund, Trust Funds, and Business-Type Funds
Improved transparency and reflection of the financial condition of the Federal Government

Irving Tenner (1950) studied this question.

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This article outlines a new fund accounting system to improve financial reporting for the Federal Government, highlighting a need for balance sheets.