Vojenské rozhledy / Czech Military Review Nr. 1/2008: 24-28
Accrual Accounting in MoD ACR: Revolutionary Look at Accounting RecordsNonreviewed - Other
This article deals with accrual accounting concept in the terms of the public sector, where-in this context-accrual accounting is understood as a basis of accounting under which transactions and other events are recognized when they occur, and not only when cash or its equivalents are received or paid. Therefore, the transactions and events are recorded in the accounting records and recognized in the financial statements of the periods to which they relate. At first, the article introduces briefly the history of accrual accounting concept implementation in the area of public sector. Secondly, it summarizes main possible benefits and risks connected with the implementation of accrual concept to the public sector accounting.
Keywords: economic management,charges,public sector,sector of defence,transparency
Published: March 15, 2008 Show citation
