The government accounting system largely depends upon the volume of financial transactions and rules and provisions of the government. In Nepalese context, in the past, there were no many financial transactions and the government was not accountable towards the people to show the position of public funds.
Government accounting in Nepal can be traced back to the Lichhavi period. It was first introduced in Nepal in Lichhavi period to record the revenues and expenditure of the government. In Lichhavi period, there was a certain form of accounting to record financial transactions. In this period government revenues were collected from trust, tax, and custom duty and expenditures were made for war, renovation and construction of temples. When the trade and industry further developed in the Malla period, the sources of government revenue were increased. The revenues were collected from trust, tax, custom and trade. The expenditures were made for war, renovation and construction of temples. The accounting system remained in the same state as in the Lichhavi period. When the number of financial transactions increased in Shah Period, it was necessary to originate the systematic accounting system. As a result, in 1871 B.S, a book called Laldhadda was introduced to record revenues and administrative expenses of the government. In 1879, another book of accounts was introduced for recording details about land and its revenues. These two books of accounts were the important steps in the history of accounting in Nepal.
After a long gap, an office Kitabkhana was established in 1925 B.S. for recording the salary paid to the employees of government offices, which is still in practice. In 1936 B.S, an important contribution made by Kharidar Gunawanta, a senior professional who propounded Syaha Sresta Pranali which was used to present a real picture of government revenues and expenditures.After the restoration of democracy in 2007 B.S., the government became more responsible towards the people and financial administration. As a result, the budgeting system was started in 2008 B.S. Under the constitution of 2015 B. S. of Nepal, on 2016 Ashadh 16, the Auditor General was appointed as the constitutional body. In Nepalese context, in the past, there were no many financial transactions and government was not accountable towards the people to show the position of public funds.Government accounting in Nepal can be traced back to the Lichhavi period. It was first introduced in Nepal in Lichhavi period to record the revenues and expenditure of the government. In Lichhavi period, there was a certain form of accounting to record financial transactions. In this period government revenues were collected from trust, tax, and custom duty and expenditures were made for war, renovation and construction of temples. When the trade and industry further developed in the Malla period, the sources of government revenue were increased. The revenues were collected from trust, tax, custom and trade. The expenditures were made for war, renovation and construction of temples. The accounting system remained in the same state as in the Lichhavi period. When the number of financial transactions increased in Shah Period, it was necessary to originate the systematic accounting system. As a result, in 1871 B.S, a book called Laldhadda was introduced to record revenues and administrative expenses of the government. In 1879, another book of accounts was introduced for recording details about land and its revenues. These two books of accounts were the important steps in the history of accounting in Nepal. After a long gap, an office Kitabkhana was established in 1925 B.S. for recording the salary paid to the employees of government of offices, which is still in practice. In 1936 B.S, an important contribution made by Kharidar Gunawanta, a senior professional who propounded Syaha Sresta Pranali which was used to present a real picture of government revenues and expenditures.After the restoration of democracy in 2007 B.S., the government became more responsible towards the people and financial administration. As a result, the budgeting system was started in 2008 B.S. Under the constitution of 2015 B. S. of Nepal, on 2016 Ashadh 16, the Auditor General was appointed as a constitutional body.
The main objective of appointment of the Auditor General was to maintain systematic accounting and avoid frauds and misappropriation of government fund. To maintain the uniformity in financial administration Procedural rule for government fund expenditure 2016 was passed and enacted in 2016 B.S. As a result, Bhuktani Sresta Pranali was introduced in 2017 B.S. Bhuktani Sresta Pranali also become unsuitable and unable to maintain the systematic record of revenues and expenditures of government offices. As a result the new accounting system based on double entry book keeping system was introduced in 2018 B.S. It has systematic and scientific system that has been followed by the government of Nepal since the fiscal year 2019/20 B.S and it is still in practice in Nepalese government offices.
Types of Accounting Systems used in Nepal
There were various types of accounting systems used in Nepal before introducing the New Accounting System. Some of the accounting systems used in Nepal was as follows:
There were various types of accounting systems used in Nepal before introducing the New Accounting System. Some of the accounting systems used in Nepal was as follows:
The government accounting system largely depends upon the ______.
position of public funds
volume of financial transactions
all the options are correct
rules and provisions of the government
Government accounting was first introduced in Nepal in ______.
Rana period
Lichhavi period
Shah Period
Malla period
In which period, Laldhadda was introduced?
Malla period
Shah period
Lichhavi period
Rana period
When was the Laldhahha introduce in Nepal?
1861 B.S.
1971 B.S.
1671 B.S.
1871 B.S.
Office of Kitabkhana was established for recording the_______.
profit and loss
salary paid to the employees of government of offices
public funds
financial position
The budgeting system was started Nepal in ______.
How many types of accounting systems have been used in Nepal?
4
2
3
5
How many types of books were used under Syaha Sresta Pranali?
5
3
2
4
Office of Kitabkhana was established for recording the_______.
public funds
salary paid to the employees of government of offices
financial position
profit and loss
ASK ANY QUESTION ON Historical Development of Government Accounting and Types of Accounting System
You must login to reply
the form sresta pranali
The form sreata pranali
Mar 09, 2017
0 Replies
Successfully Posted ...
Please Wait...