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Economic Research

Accrual Accounting for Governments

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The IMF has launched its Public Financial Management blog. Yesterday's post by Abdul Khan discusses the transition to accrual accounting - accounting which records revenue when earned and expenses when incurred rather than when cash is transferred - for governments at the national and subnational levels (including SOEs).

A little Accounting 101 can yield some insight into the implications of this accounting methodology: Cash-basis accounting, which is still used by most governments, does not record 1) revenue and expenses that occur with a cash flow lag and 2) non-cash transactions.[...]

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