GTZ Report on Accrual Accounting Status Quo - LGCDP

How to implement Accrual Accounting 29
Table 4: Macro and Micro Level Strategy
Macro level strategy
Milestones:
Micro Level Strategy
Milestones
1) Form a project planning steering group
2) Develop a national implementation plan
3) Establish a legal framework for accrual accounting
4) Develop a new chart of accounts
5) Develop detailed accrual accounting guidelines and manuals (also focussing on
implementation phase)
6) Software Development
7) Prepare nationwide training in manual and computerized accrual accounting
8) Prepare long term education
9) Establish post implementation back up facility
1) Create a project management steering group
2) Accounting system and needs assessment
3) Decide on modified or full accrual accounting
4) General and specific training
5) Inventory; Obtaining information
6) Valuation of Assets (only if a full accrual accounting system is wanted)
7) Budgeting
8) Opening balance sheet
9) First fiscal year should be done both manually and computerized
10) First financial statements at the end of the fiscal year
11) Thereafter, computerized Accrual Accounting only
12) Financial statements