What is the revenue recognition criteria used in government entities?
They have a committee set up, the Internal Revenue Service, that tallies up all the numbers and taxes and whatnot for the national government. From there, they apportion the money to the states in grants, such as block grants, project grants, formula grants, etc. Block grants are the money states automatically get, whereas you need to have a specific purpose for project grants. Formula grants are given by a formula determined by the government. Hoped that helped.
