“Benefits of Accrual Accounting in the Public Sector” analyses and illustrates benefits but also costs related to the implementation of accrual accounting in public sector entities which is a long-term project and requires understanding of outcomes and enabling conditions of such reforms.
Accrual accounting reporting, which means recording the economic substance of transactions when they occur regardless of the occurrence of their respective cash settlement, is fundamental to good decision making, transparency and accountability.
The PSA EduCoP Virtual Event reconvened representatives of Ministries of Finance, universities and Professional Accountancy Organizations (PAOs) to introduce participants to the Accountability.
About 300 delegates including ministers of finance, senior government experts, and representatives of the business, professional and academic communities gathered today to discuss the role financial information plays in supporting economic development, regional and global integration of economies, and convergence of income and living standards between poorer and richer countries. The conference took place under the auspices of the Austrian Presidency of the Council of the European Union and was organized by the World Bank’s Centre for Financial Reporting Reform (CFRR).