Belize: Technical Assistance Report-Transition to Accrual Accounting

Belize: Technical Assistance Report-Transition to Accrual Accounting
READ MORE...
Volume/Issue: Volume 2023 Issue 203
Publication date: June 2023
ISBN: 9798400244674
$20.00
Add to Cart by clicking price of the language and format you'd like to purchase
Available Languages and Formats
paperback else
pdf else
epub else
English
Prices in red indicate formats that are not yet available but are forthcoming.
Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Money and Monetary Policy , Public Finance , International - Economics , IMF's Fiscal Affairs Department , authorities of Belize , government ministry , cash basis , accounts receivable , government accounting Manual , Fiscal accounting and reporting , Financial statements , Accounting standards , Chart of accounts

Also of interest
Summary

Belize is planning to transition to accrual accounting over the medium term. This reform is considered an advanced practice on the public financial management (PFM) spectrum and has been attempted by few regional comparators (Barbados, Bermuda, Cayman Islands and Curacao). There is a strong commitment and enthusiasm for reform from the Treasury’s new leadership. The authorities want to improve transparency and accountability as well as shift their current focus on payments and reconciliations to include modern Treasury functions such as financial management, cash management and financial reporting. While full accrual practices may not be achieved in the short term, the reform presents opportunities for more efficient work procedures, greater cross-cutting collaboration, improved transparency, lower borrowing costs and the possibility to become a regional example.