Vol. 555 No. 3
228 Mr. Eamon Ryan asked the Minister for Transport if his Department's annual accounts are currently done on a full accrual accounting system; and if not, if there is a time-scale for the full implementation of such an accounting method. [18572/02]
My Department produces two sets of audited annual accounts. In common with all other Government Departments, my Department produces the statutory annual Appropriation Accounts in accordance with the Exchequer and Audit Departments Act, 1866 and accounting rules and procedures laid down by the Minister for Finance. The accounts are a cash-based record of the receipts and payments in the year compared with the Estimate provision, with the addition of information of an accruals nature.
In addition, my Department, formerly the Department of Public Enterprise and the Department of Transport, Energy and Communications, has each year since 1996 published non-statutory financial statements prepared on a full accrual accounting basis in accordance with general accepted accounting practice, GAAP, as part of its annual report. The financial statements in respect of 2001 will be published shortly.
