Account

 

An account is a financial record or report used for accounting or budgetary purposes.

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The U.S. government uses individual accounts and sub-accounts to organize financial information by Program, Project, or Activity (PPA).  There is no standard method of accounting used by all government entities.

Example:  

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The U.S. Department of _______ has separate accounts and sub-accounts for each program to record all revenues and expenditures relating to each program.

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Government Accountability Office (GAO) Definition:

 

A separate financial reporting unit for budget, management, and/or accounting purposes. All budgetary transactions are recorded in accounts, but not all accounts are budgetary in nature. Some accounts do not directly affect the budget but are used purely for accounting purposes. Budget accounts are used to record all transfers within the budget, whereas other accounts (such as deposit fund, credit financing, and foreign currency accounts) are used for accounting purposes connected with funds that are nonbudgetary in nature. The Office of Management and Budget (OMB), in consultation with the Department of the Treasury (Treasury), assigns account identification codes reflecting appropriations as enacted in appropriations laws. Treasury establishes and maintains a system of accounts that provides the basic structure for the U.S. Standard General Ledger Chart of Accounts. (See also Accounts in the President’s Budget; Accounts for Purposes Other Than Budget Presentation; Credit Reform Act Accounts under Federal Credit; Standard General Ledger Chart of Accounts.)

 

Reference: http://www.gao.gov/new.items/d05734sp.pdf