Accounting Challenges for Semi-Autonomous Revenue Agencies (SARAs) in Developing Countries
AbstractThe paper discusses the improvements which a semi-autonomous revenue agency (SARA) must make to its records to meet fiscal and financial accounting obligations. SARAs are legal entities, such as a service or a department, which are required to prepare accrual records that may diverge from a treasury's cash accounting records. Their records reflect revenues generated; budget funds for generating the revenues; and material programs administered for other agencies. The accounting records and financial statements (income statement, balance sheet and cash flow statement) must conform to generally-accepted accounting principles (GAAPs) or standards such as the International Public Sector Accounting Standards (IPSAS) of the International Federation of Accountants (IFAC)-and to the treatment of operating, investment and financing activities in the Government Finance Statistics (GFS) Manual.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 08/116.
Date of creation: 01 May 2008
Date of revision:
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This paper has been announced in the following NEP Reports:
- NEP-ACC-2008-06-21 (Accounting & Auditing)
- NEP-ALL-2008-06-21 (All new papers)
- NEP-DEV-2008-06-21 (Development)
- NEP-PBE-2008-06-21 (Public Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Pokar Khemani & Jack Diamond, 2005. "Introducing financial Management Information Systems in Developing Countries," IMF Working Papers 05/196, International Monetary Fund.
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