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Accounting Challenges for Semi-Autonomous Revenue Agencies in Developing Countries


  • Seth E. Terkper


The 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.

Suggested Citation

  • Seth E. Terkper, 2008. "Accounting Challenges for Semi-Autonomous Revenue Agencies in Developing Countries," IMF Working Papers 08/116, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:08/116

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    References listed on IDEAS

    1. Pokar D Khemani & Jack Diamond, 2005. "Introducing Financial Management Information Systems in Developing Countries," IMF Working Papers 05/196, International Monetary Fund.
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    Cited by:

    1. Moore, Mick, 2014. "Revenue Reform and Statebuilding in Anglophone Africa," World Development, Elsevier, vol. 60(C), pages 99-112.

    More about this item


    Developing countries; Public sector; Public finance; Government accounting; Fiscal transparency; Tax revenues; Tax administration; accrual accounting; tax offices; tax agencies; cash accounting;

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