Explain main drivers for changing to ipsas, Financial Management

Assignment Help:

Question:

PART A

With the view to modernise its accounting system Government is considering adopting International Public Sector Accounting Standards (IPSAS) so as to maximise the reliability and usefulness of reported financial information

Required:

(i) What are IPSAS and explain four main drivers for changing to IPSAS

(ii) Briefly explain six benefits government can derive from adopting IPSAS

PART B

(a) Government is currently using the Treasury Accounting System (TAS) to account for all financial transactions. Explain what TAS is and briefly explain the different Modules used to process the financial transactions of government.

(b) Government has recently set up a new Chart of Accounts to record its financial transactions. Identify and briefly explain two segments of the Chart of Account with one example of its application.


Related Discussions:- Explain main drivers for changing to ipsas

Financial management and production department, The production department i...

The production department in any firm is concerned with provision of production facilities, production cycle, skilled and unskilled labor, storage of finished goods, capacity utili

Bond's capital gain yield, A 10-year, 12% semi-yearly coupon bond with a pa...

A 10-year, 12% semi-yearly coupon bond with a par value of $1,000 may be called in 4 years at a call price of $1,050. The bond sells for $1,050. (Suppose that the bond has just bee

Capital budgeting assignment, Assignment 2 Decision Tree Assessing Alterna...

Assignment 2 Decision Tree Assessing Alternatives in Capital Budgeting [see Bailes, J.C., and Nielsen, J.F. (2001, Winter). Using decision trees to manage capital budgets. Manag

Show the accountable plan, Q. Show the Accountable Plan? Accountable P...

Q. Show the Accountable Plan? Accountable Plan - An accountable plan is any reimbursement or other expense allowancearrangement of an employer which meets all of the subseque

Step by step approach to completing a statement, Step by step approach to ...

Step by step approach to completing a statement of cash flows Step by step approach to completing a statement of cash flows Step 1

Market-based versus bank-based financial systems, What do you meant by mark...

What do you meant by market-based and bank-based financial systems? Market-based versus bank-based financial systems implications. The presence of market-based and bank-base

State about the equity owners, State about the equity owners Flip side...

State about the equity owners Flip side of the coin is that the equity owners are also owners of all the profits which remain after all the debt holders are paid their interes

State about the country analysis and political risk, Country analysis and p...

Country analysis and political risk Country analysis could use tools for example PEST factors in order to strategically analyse countries. Political risk

Cost sheet, A proforma cost sheet of a company provides the following data:...

A proforma cost sheet of a company provides the following data:   RO Cost (per unit)      Raw materials 52

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd