Report on Pilot Study on Migration to Accrual Accounting : Forest and Health Departments of State Government of Madhya Pradesh (India)

World Bank

Report on Pilot Study on Migration to Accrual Accounting : Forest and Health Departments of State Government of Madhya Pradesh (India)

2010

World Bank

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.

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AGROVOC Keywords

agriculture auctions bid capacity building cash flow decision making economic benefits equipment expenditure fixed assets income inventories liability natural resources pension retirement salaries valuation wages

Bibliographic information

Publisher

Washington, DC

Other Subjects

Claim; Government accounts; Auction; Abuses; Pension plans; Monetary fund; Financial statement; Treasury bill; Transaction; Fair value; Capacity enhancement; Technical assistance; Enforceability; Financial transactions; Financial assets; Financial reporting; Valuation of assets; Disbursements; Record keeping; Employee benefits; Holding; Government account; Financial position; Auditor; Accounting standard; Balance sheet; Title; Fair market value; Actuaries; Accountant; Treasury; State governments; Organizational structure; Forfeitures; Cash payment; Capitalization; Government accounting standards; State government; Receivable; Equipments; Disbursement; Financial statements; Accounting principles; Local governments; Accrual accounting; Outstanding loan; Arrears; Physical assets; Market price; Judgment; Financial management; Government accounting framework; Budget control; Suppliers; Management of assets; Inventory; Financial performance; Bids; Salary; Auditors; Trial; Receivables; Internal audit

License

http://hdl.handle.net/10986/12453http://creativecommons.org/licenses/by/3.0/World BankCC BY 3.0 Unported

In AGRIS since: 2014-09-15

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http://hdl.handle.net/10986/12453

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