Government of Nepal has allocated budget head number of the expenditure according to their nature to bring uniformity in maintaining financial records in all government offices. Numerical codes are allocated for every budget expenditure account. This note has information about the classification of expenditures under new accounting system.
New accounting system is the present accounting system of government of Nepal which keeps systematic record of all revenues and expenditures of the government offices performed through bank. This note has information about new accounting system and its features.
Accounting is an effective tool for financial administration. It helps to achieve goal of financial administration. This note has information about the objectives, importance and limitations of new accounting system.
The accounting system of government offices is classified into two levels under the new accounting system. Those are central level accounting and operating level accounting. This note has information about the levels of new accounting system and the forms used in new accounting system.