FEE’s Alert provides a brief overview for the time-conscious reader of a key issue for public sector organisations, namely accrual accounting. It explains why accrual accounting is so widely accepted and it highlights the benefits it offers to those involved in the political process.
Accrual accounting is the accepted method of accounting worldwide for the private sector and now, increasingly, the public sector. Many governments in Europe and worldwide are adopting accrual accounting and the European Commission has recently completed a project to introduce accrual accounting for its own financial statements from 2005 onwards.
The publication is available in electronic format only.