- 10 Marks
PSAF – Dec 2023 – L2 – Q1a – Public sector fiscal planning and budgeting
Discuss five areas a draft accrual-based accounting policy should cover, indicating the importance of each area.
Question
You are the Assistant Accountant of a fast-growing public university, which is moving from cash basis to accrual basis of accounting. You have been put in charge of developing a draft accrual-based accounting policy for the university.
Required: Discuss FIVE (5) areas that your draft accounting policy will cover, indicating why these areas are important. (10 marks)
Find Related Questions by Tags, levels, etc.
- Tags: Accrual Accounting, Draft Accounting Policy, Public University
- Level: Level 2
- Topic: Public sector fiscal planning and budgeting
- Series: DEC 2023
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