Dear Colleagues,
IFAC has just published 'Pathways to Accrual'. This is a tool intended to assist public sector entities, including national, regional, and local governments, and related governmental entities (other than government business enterprises) and international governmental organizations wishing to report on the accrual basis of accounting. It is primarily intended to assist public sector entities transitioning from cash to the accrual basis of accounting.
The tool includes:
- An overview of the wider context in which the transition to the accrual basis of accounting may occur;
- A discussion of various transition pathways that entities choosing an incremental implementation process may adopt;
- Identification of the main tasks associated with recognition of assets, liabilities, revenues, and expenses, including issues and challenges associated with the identification of, as well as measurement of, those elements in financial statements;
- Some implications of adopting accrual basis IPSAS;
- Practical suggestions based on the experience of other entities and jurisdictions; and
- Links to other useful guidance and resources.
Please find this document attached here:
