Directions
The Government of the Bahamas has developed a highway map for the transition to accruals-based accounting by the finish of fiscal yr 2022/2023. The speech offered by the finance minister in 2020 is connected beneath outlining the technique. You group has been employed as an exterior guide to the new Davis authorities to advise whether or not this transition is useful to the Nation to proceed as deliberate, offering a abstract of key accounting issues and proposals on why or why it isn’t useful to make the change. Additionally, your paper ought to deal with the time-frame put ahead of yr 2022 and 2023, whether or not it’s achievable. Your place paper ought to particularly deal with the particular areas famous beneath and be ready in report type to the present Ministry of Finance.
Talk about the Present accounting guidelines and steerage that will be relevant, domestically, in the Caribbean or wider worldwide neighborhood.
