Accounting Challenges for Semi-Autonomous Revenue Agencies (SARAs) in Developing Countries

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.

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Year of publication:	2008-05-01
Authors:	Terkper, Seth E.
Institutions:	International Monetary Fund (IMF)
Subject:	Government accounting \| Developing countries \| Tax revenues \| Tax administration \| Fiscal transparency \| Public finance \| accrual accounting \| tax offices \| tax agencies \| cash accounting \| tax agency \| ifmis \| tax systems \| full accrual accounting \| accounting standards \| tax arrears \| tax refunds \| cash flow statement \| budget allocations \| treasury systems \| budget resources \| financial accounting \| budget allocation \| tax liabilities \| government finance statistics \| financial management \| budget rules \| national accounts \| government finance \| public finance management \| tax reform \| capital expenditures \| tax departments \| tax ? departments \| payroll taxes \| annual accounts \| tax return \| tax liability \| fmis \| treasury system \| budget approval \| audit institutions \| budget information \| tax accounting \| capital investments \| domestic tax \| public financial management \| tax receipts \| treasury single account \| government fiscal management \| accrual accounting systems \| taxpayer services \| tax ? revenues \| budget systems \| national accounting \| tax assessments \| taxpayer accounting \| tax reforms \| government expenditure \| financial management information \| budget allocation process

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Extent:	application/pdf
Series:	IMF Working Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	The text is part of a series IMF Working Papers Number 08/116 2 pages long
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005768834