GTZ Report on Accrual Accounting Status Quo - LGCDP

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Abbreviations and Acronyms ADB <strong>GTZ</strong> IAS ICAN IFAC IPSAS IPSASB IPT KMC LBFC LGCDP MC/PM MLD MuAN OECD RLC udle UDTC WTO Asian Development Bank German Technical Cooperation International Accounting Standards Institute of Chartered Accountants of Nepal International Federation of Accountants International Public Sector Accounting Standard (of IFAC) International Public Sector Accounting Standard Board Integrated Property Tax Kathmandu Metropolitan City Local Bodies Fiscal Commission Local Governance and Community Development Program Minimum Conditions and Performance Measures Ministry of Local Development Municipality Association of Nepal Organisation for Economic Co-operation and Development Regional Learning Centre urban development through local efforts program Urban Development Training Centre World Trade Organization Acknowledgments Urban Development through Local Effort Programme (udle) would like to thank all organizations and institutions which provided valuable information and inputs.
Contents 01. Executive Summary (p.1) 02. Cash Accounting vs. Accrual Accounting (p.2) 2.1. Definition and comparison of the Cash Accounting System and the Accrual Accounting System (p.2) 2.2. Advantages and Disadvantages of Cash Accounting and Accrual Accounting (p.4) 2.3. The dimensions of Accrual Accounting – Financial Statements (p.7) 2.4. In-Betweenism: Mixed Approaches of Cash and Accrual Accounting (p.8) 2.5. Which accounting approach for which level of government (p.9) 2.6. International Public Sector Accounting Standards – IPSAS (p.11) 2.7. International Experiences on the Local Level (p.11) 03. Findings and observations in the Nepalese municipalities (p.14) 3.1. Accrual accounting history and past udle experiences (p.14) 3.2. Status Quo in the Nepalese municipalities regarding Accrual Accounting (p.18) 04. How to implement Accrual Accounting (p.21) 4.1. Recommendations and preconditions for the implementation of Accrual Accounting (p.21) 4.1.1. Technical accrual accounting recommendations and preconditions (p.21) 4.1.2. General accrual accounting recommendations and preconditions (p.25) 4.2. Development of a macro and micro implementation plan (p.28) 05. Annex (p.30) 06. References (p.32) Tables and Figures Overview 1: Cash Accounting vs. Accrual Accounting (p.3) Overview 2: The three most important dimensions of Accrual Accounting Financial Statements (p.8) Overview 3: Worldwide efforts by local governments to implement accrual accounting (p.13) Table 1: Municipality Types (p.18) Table 2: Technical accrual accounting recommendations and preconditions (p.21) Table 3: General accrual accounting recommendations and preconditions (p.25) Table 4: Macro and Micro Level Strategy (p.29) Annex 1: IPSAS List (p.30) Annex 2: Macro level implementation plan (p.31) Annex 3: Udle monitoring (p.31)
Page 1: Urban Development through Local Eff
Page 5 and 6: Cash Accounting vs. Accrual Account
Page 17 and 18: Findings and observations in the Ne
Page 25 and 26: How to implement Accrual Accounting
Page 33 and 34: Annex 30 05. Annex Annex 1 IPSAS Li
Page 35 and 36: References 32 06. References ADB (2
Page 37: References 34 Schiavo-Campo, S. & T

GTZ Report on Accrual Accounting Status Quo - LGCDP

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