Washington Needs Accounting Reform
As a former member of the House of Representatives and certified public accountant, I was delighted to read an April 1 Associated Press article quoting Federal Reserve Chairman Alan Greenspan in support of the accrual method of accounting (in which expenses are booked when incurred, not when payments are made) for federal government budgeting and reporting. Greenspan aptly pointed out that the accrual method "more clearly (lays out) the true costs and benefits of changes to v
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