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Implementing Accrual Accounting in the Public Sector
Author:
Ms. Suzanne Flynn
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Delphine Moretti null

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Joseph Cavanagh
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Series:
Technical Notes and Manuals
Volume/Issue:
Volume 2016: Issue 006
Language:
English
Publication Date:
15 Sep 2016
DOI:
https://doi.org/10.5089/9781513589466.005
ISBN:
9781513589466
ISSN:
2075-8669
Pages:
59
Keywords:
TNM; accounting policy; cash flow; cash accounting; accounts payable; modified cash basis; government accounting; accrual accounting; GFSM; government financial reporting; IPSAS; accounting standards; central government; cash basis; equity investment; local government; cash balance; Financial statements; Fiscal accounting and reporting; Currencies; Australia and New Zealand; Africa
Legal-disclaimer:
This Technical Guidance Note should not be reported as representing the views of the IMF. The views expressed in this paper are those of the authors and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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This technical note and manual (TNM) explains what accrual accounting means for the public sector and discusses current trends in moving from cash to accrual accounting. It outlines factors governments should consider in preparing for the move and sequencing of the transition. The note recognizes that governments considering accounting reforms will have different starting points across the public sector, different objectives, and varying coverage of the existing financial statements, it therefore recommends that governments consider each of these, and the materiality of stocks, flows and entities outside of government accounts when planning reforms and design the sequencing and stages involved accordingly. Building on international experiences, the note proposes four possible phases for progressively increasing the financial operations reported in the balance sheet and operating statement, with the ultimate aim of including all institutional units under the effective control of government in fiscal reports.
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Cover Technical Notes and Manuals
Technical Notes and Manuals
ISSN:
2075-8669
Publisher:
International Monetary Fund