By Julie Cooper, includes “… If decision makers focus only on what has been paid there is a risk that government agencies will spend above the approved budget limits thus leading to a potential build-up of expenditure arrears. If they focus only on what revenue has been received, they may not put sufficient effort into the collection of revenue. … Public sector accountants and auditors and PFM advisors must understand the difference between the requirements to produce financial management reports that are useful for decision-making and the requirements mandated in IPSAS cash-basis GPFRs.”
Read the full article on: IMF Public Financial Management Blog