Resource accounts tested in Balkans
Military operations in Kosovo are being studied to see how the government’s new resource accounting and budgeting system will operate also when it goes live in 2001.
While accountants are not deployed alongside service personnel in the Balkans, financial planning operates from UK headquarters.
But if military commitments are expanded, the Ministry of Defence has not ruled out sending accountants to the region to track expenditure.
The National Audit Office is monitoring the situation.
As Whitehall prepares to shift to commercial accounting practice, officials continue to monitor and report in the cash basis system.
Financial information gathered during NATO’s actions against Serbian targets will aid future planning. ‘It is a useful exercise for future actions and is being treated as such,’ said a defence spokesperson.
Any hardware lost in the Balkans would be replaced under the cash system on a like-for-like basis as it was after the Falklands and Gulf wars.
Resource accounting introduces depreciation and stock consumption measures.
The numbers you crunch tell a story. Your expertis...
25yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleIn the midst of political flux, potential UK entrepreneurs are hesitating to launch new businesses, primarily due to the uncertainty brought about by ...
View article61% say providing financial support for their family is of importance to them, with 77% currently doing so Read More...
View articleStartups face unique financial challenges, such as cash flow volatility and equity-based compensation complexities. Innovative strategies and technolo...
View articleThere is optimism that the IPO market will rebound in the second half of 2024, driven by pent-up demand and potential improvements in economic conditi...
View articleIn 2019, the a survey conducted by the FRC highlighted that only 17% of women held partner-level positions Read More...
View articleDains believes a corporate structure is the best way to maximise the benefits of its growth strategy Read More...
View articleBoth employer and employee will benefit from flexibility and cost-saving Read More...
View articleThere are nine key areas that accounting practices must get to grips with as client expectations and technological developments rise, while team membe...
View article