Revenue - Government Revenue

Government Revenue

Government revenue includes all amounts of money (i.e. taxes and/or fees) received from sources outside the government entity. Large governments usually have an agency or department responsible for collecting government revenue from companies and individuals.

Government revenue may also include reserve bank currency which is printed. This is recorded as an advance to the retail bank together with a corresponding currency in circulation expense entry. The income derives from the Official Cash rate payable by the retail banks for instruments such as 90 day bills.There is a question as to whether using generic business based accounting standards can give a fair and accurate picture of government accounts in that with a monetary policy statement to the reserve bank directing a positive inflation rate. The expense provision for the return of currency to the reserve bank is largely symbolic in that to totally cancel the currency in circulation provision all currency would have to be returned to the reserve bank and cancelled.

Read more about this topic:  Revenue

Other articles related to "government revenue, revenue, government":

Sports In Delaware - Law and Government - Government Revenue
... Gambling provides significant revenue to the state ... For instance, the casino at Delaware Park Racetrack provided more than $100 million USD to the state in 2010 ...
Economy Of Kiribati - Government Revenue
... Receipts from phosphates had accounted for roughly 80% of export earnings and 50% of government revenue ... In 2008, the Revenue Equalization Reserve Fund was valued at US$ 400 million ... was reduced due to failed Icelandic banks, as well as withdrawals made by the government of Kiribati to finance budgetary shortfalls ...

Famous quotes containing the words revenue and/or government:

    Happy are those who find wisdom, and those who get understanding, for her income is better than silver, and her revenue better than gold. She is more precious than jewels, and nothing you desire can compare with her. Long life is in her right hand; in her left hand are riches and honor. Her ways are ways of pleasantness, and all her paths are peace. She is a tree of life to those who lay hold of her; those who hold her fast are called happy.
    Bible: Hebrew, Proverbs 3:13-18.

    There is, in fact, no law or government at all; and it is wonderful how well things go on without them.
    George Gordon Noel Byron (1788–1824)