69.1 INTRODUCTION: ACCRUAL AND CASH BASED—WHAT DOES IT MEAN?
69.2 PUBLIC SECTOR MIGRATION TO ACCRUAL ACCOUNTING: PROS AND CONS
69.3 INTERNATIONAL PUBLIC SECTOR ACCOUNTING STANDARDS
69.4 ADOPTION OF ACCRUAL ACCOUNTING IN EUROPE
(d) The Netherlands
(f) United Kingdom
Two main accounting bases exist for recognition and measurement: the accrual basis and the cash basis.
According to the International Federation of Accountants, this has implications for the type of statements that are presented. When the accrual basis of accounting underlies the preparation of the financial statements, the financial statements will include the statement of financial position, the statement of financial performance, the cash flow statement, and the statement of changes in net assets/equity. When the cash basis of accounting underlies the preparation of the financial statements, the primary ...