Assignment

 Instructional Objectives for this activity:
Explain the federal budget process in federal accounting and financial reporting

The federal government operates on a fiscal year that begins on October 1st of each year.  The budget process begins many months before the start of the fiscal year.   

Discuss answers to the following questions and justify your response:

• Explain the federal budget process.
• Which step in the process do you think is the most important?Explain you answer.