Report on Pilot Study on Migration to Accrual Accounting : Forest and Health Departments of State Government of Madhya Pradesh (India)
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Washington, DC
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The objective of this study is to
identify gaps between the existing cash based accounting
system and the accrual based accounting system to assist
Government Accounting Standards Advisory Board (GASAB) to
address issues related to Property, Plant and Equipment
(PPE) and inventories during actual migration to accrual
accounting. This study also includes documentation of
operational and implementation issues and suggested
solutions to latent problems and road blocks if any so as to
provide necessary inputs to GASAB for framing appropriate.
Guidelines for migration of Government accounts from cash
basis to accrual accounting system. The study is noteworthy
that not only statement of financial position for the
reporting entity has been prepared but it also discloses
physical assets and current liabilities. Maintenance of
proper records of various classes of assets (constructed,
acquired or donated), inventories, receivables and carry
over as prescribed in the financial rules and departmental
regulations is a starting point for transition to accrual accounting.
Palabras clave
ABUSES, ACCOUNTANT, ACCOUNTING PRINCIPLES, ACCOUNTING STANDARD, ACCRUAL ACCOUNTING, ACTUARIES, AGRICULTURE, ARREARS, AUCTION, AUCTIONS, AUDITOR, AUDITORS, BALANCE SHEET, BID, BIDS, BUDGET CONTROL, CAPACITY BUILDING, CAPACITY ENHANCEMENT, CAPITALIZATION, CASH FLOW, CASH PAYMENT, CLAIM, DECISION MAKING, DISBURSEMENT, DISBURSEMENTS, ECONOMIC BENEFITS, EMPLOYEE BENEFITS, ENFORCEABILITY, EQUIPMENT, EQUIPMENTS, EXPENDITURE, FAIR MARKET VALUE, FAIR VALUE, FINANCIAL ASSETS, FINANCIAL MANAGEMENT, FINANCIAL PERFORMANCE, FINANCIAL POSITION, FINANCIAL REPORTING, FINANCIAL STATEMENT, FINANCIAL STATEMENTS, FINANCIAL TRANSACTIONS, FIXED ASSETS, FORFEITURES, GOVERNMENT ACCOUNT, GOVERNMENT ACCOUNTING FRAMEWORK, GOVERNMENT ACCOUNTING STANDARDS, GOVERNMENT ACCOUNTS, HOLDING, INCOME, INTERNAL AUDIT, INVENTORIES, INVENTORY, JUDGMENT, LIABILITY, LOCAL GOVERNMENTS, MANAGEMENT OF ASSETS, MARKET PRICE, MONETARY FUND, NATURAL RESOURCES, ORGANIZATIONAL STRUCTURE, OUTSTANDING LOAN, PENSION, PENSION PLANS, PHYSICAL ASSETS, RECEIVABLE, RECEIVABLES, RECORD KEEPING, RETIREMENT, SALARIES, SALARY, STATE GOVERNMENT, STATE GOVERNMENTS, SUPPLIERS, TECHNICAL ASSISTANCE, TITLE, TRANSACTION, TREASURY, TREASURY BILL, TRIAL, VALUATION, VALUATION OF ASSETS, WAGES