09-08-2004, 03:07 PM
Well Mr. Moon is not 100% correct because as far as i have worker with several public sector entities, they are following proper accrual system of accounting and morever prepare their financial statements as per the requirements of International Accounting Standards(IASs).. and they are doing very well in it.. i may quote WAPDA entities, punjab seed etc and all these entities are following accrual system of accounting.
