https://www.taxtmi.com/news?id=498 The Union Government has accepted in principle a phased transition from the current cash basis to an accrual basis of accounting to enable measurement of the full cost of services, better resource allocation, and improved asset and liability management. The Controller General of Accounts will continue as principal adviser, maintaining the Chart of Accounts, administering receipt and payment rules, and preserving exchequer control through the Civil Accounts Organisation while information technology and accounting developments facilitate the gradual shift. en-us Thu, 03 Jul 2008 14:54:38 +0530 Thu, 03 Jul 2008 14:54:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=498 The Union Government has accepted in principle a phased transition from the current cash basis to an accrual basis of accounting to enable measurement of the full cost of services, better resource allocation, and improved asset and liability management. The Controller General of Accounts will continue as principal adviser, maintaining the Chart of Accounts, administering receipt and payment rules, and preserving exchequer control through the Civil Accounts Organisation while information technology and accounting developments facilitate the gradual shift. News - Thu, 03 Jul 2008 14:54:38 +0530 https://www.taxtmi.com/news?id=498