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

Calculate the total cashflows, Calculate the Total Cashflows from 2007 - 20...

Calculate the Total Cashflows from 2007 - 2011.  Suppose that the company will require to increase their annual investment in fixed assets (representing new equipment) at the simil

Explain accept-reject criteria, Q. Explain Accept-Reject Criteria? Acce...

Q. Explain Accept-Reject Criteria? Accept-Reject Criteria:- If actual ARR is elevated than the predetermined rate of return .......................Project would be accep

Bankruptcy and bondholder rights, The holder of a corporate debt inst...

The holder of a corporate debt instrument is preferred to equity shareholders in the bankruptcy proceedings. However, secured/senior creditors are preferred to no

Globalization of financial markets, Floria Scarpia believes that many of he...

Floria Scarpia believes that many of her clients could benefits from using international investments to diversify their portfolios but many are reluctant to invest abroad -especial

Show the costs of investment in receivables, Q. Show the Costs of Investmen...

Q. Show the Costs of Investment in Receivables? Costs of Investment in Receivables: - When a firm sells goods or else services on credit it has to bear numerous types of costs.

How to solve problems, I need help solving problems for learning financial ...

I need help solving problems for learning financial management?

How to calculate the net income of a year, Is the net income of a year the ...

Is the net income of a year the money the company made that particular year or is it a number whose significance is quite doubtful? The net income of a year is not money that a

Equity claims and debt instruments in financial securities, What is the dif...

What is the different between equity claims and debt instruments in financial securities? By getting conclusion about equity claims and debt instruments, that equity claims are

Operating lease, what is operating lease, its features, advantages, its app...

what is operating lease, its features, advantages, its applicability

Case study, Suggestion regarding Credit limit. Should it be approved or not...

Suggestion regarding Credit limit. Should it be approved or not, what should be the amount of credit limit that electronics give to Booth Plastics.

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