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This time, it's the new Financial State of the States report by the Institute for Truth in Accounting, an Illinois-based nonprofit that has been pushing governments to reform their accounting practices for more than a decade.
This time, it's the new Financial State of the States report by the Institute for Truth in Accounting, an Illinois-based nonprofit that has been pushing governments to reform their accounting practices for more than a decade.
 
When you promise to pay someone in the future, you have a debt with him. However, were you to use cash accounting, as North Carolina's government does, you would not record it as such, because no cash changed hands.
When you promise to pay someone in the future, you have a debt with him. However, were you to use cash accounting, as North Carolina's government does, you would not record it as such, because no cash changed hands.
 
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