Excelsior Correspondent
Srinagar, Sept 16: The office of the Principal Accountant General (Audit), J&K, in collaboration with the Finance Department, today organised a workshop on the accrual system of accounting and audit of financial statements for State Autonomous Bodies (SABs) and State Public Sector Enterprises (SPSEs) here.
Principal Accountant General (Audit) KP Yadaw, Principal Secretary Finance Santosh Vaidya, and senior officers of SABs and SPSEs attended the workshop, with participants from Jammu joining virtually.
The programme, divided into two sessions, discussed preparation of financial statements under Generally Accepted Accounting Principles (GAAPs) for SABs and provisions of the Companies Act, 2013 for SPSEs.
Yadaw said the workshop emphasised moving from the cash-based system to accrual-based accounting, which offers a more accurate picture of financial health.
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