PAG office, Finance Deptt hold workshop on accrual accounting in J&K

Srinagar, Sep 17: The office of the Principal Accountant General (Audit), Jammu & Kashmir, in collaboration with the J&K Finance Department, organised a one-day workshop on the accrual system of accounting and audit of financial statements at the PAG office in Srinagar. Several participants from Jammu joined virtually.

The workshop aimed at strengthening fiscal management, improving financial reporting, and enhancing transparency in State Autonomous Bodies (SABs) and State Public Sector Enterprises (SPSEs).

Principal Accountant General (Audit) J&K, K. P. Yadaw, Principal Secretary Finance, Santosh Vaidya, Director General (Accounts & Treasuries) Fayaz Lone, and Director General Expenditure Sajjad Hussain addressed the participants. Senior officers from SABs and SPSEs also took part.

The programme was divided into two sessions. The first session, meant for SABs, focused on preparing financial statements under the accrual system in line with Generally Accepted Accounting Principles (GAAPs). The second session catered to SPSEs, discussing the provisions of the Companies Act, 2013, and the adoption of accrual accounting in financial reporting.