The government is finalising a road map to move to a system of “accrual-based accounting” from the current cash-based accounting system to better reflect the nation’s assets and liabilities in its annual financial statement. The new system is meant to capture some of the government’s liabilities and assets that now find no mention in the annual budget.
Read the article here.
Read the article here.
Funny :)
ReplyDeletefirst the government should completely convert the current accounting system in companies to 100% acrcual based which it has been trying to do for a long time...
ReplyDeleteThen only it should start thinking about such stuff..